Description
1031 Exchange partially fell through, so 4 total units totaling over 6800 sf of leasable space remain. 3 of the units have established business leases in place, tenants been there for years- RECENTLY RENEWED - medical related & other business uses. One other was recently vacated & is a former Medical Lab. Seller has chosen not to lease & let a new buyer either use it for a home office or lease it themselves. 6+CAP rate at List Price even with the one vacancy. When fully leased, CAP rate will increase to over 7%. Hidden Value in this deal is the excess land (that can be purchased separately) & developed into at least 8 more units. See separate listings if interested in single units or land. This is a great investment property.
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0BEDS
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2.67ACRES
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0BATHS
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01/2 BATHS
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7,770SQFT
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$207$/SQFT
School Ratings & Info
Description
1031 Exchange partially fell through, so 4 total units totaling over 6800 sf of leasable space remain. 3 of the units have established business leases in place, tenants been there for years- RECENTLY RENEWED - medical related & other business uses. One other was recently vacated & is a former Medical Lab. Seller has chosen not to lease & let a new buyer either use it for a home office or lease it themselves. 6+CAP rate at List Price even with the one vacancy. When fully leased, CAP rate will increase to over 7%. Hidden Value in this deal is the excess land (that can be purchased separately) & developed into at least 8 more units. See separate listings if interested in single units or land. This is a great investment property.
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