Property Facts

Description

This exceptional commercial investment opportunity offers over 22,000 square feet of versatile space with multiple income streams and significant upside potential. The property is comprised of 15 units, many of which have been renovated or built out, and features numerous long-term tenants already in place, providing immediate, stable cash flow. Currently generating approximately $7,653 per month, with three vacant units advertised for rent, the property presents a strong value-add opportunity with roughly 30% vacancy remaining--ideal for increasing income and boosting returns. The current net income stands at $91,838 annually, making this one of the highest CAP rate opportunities on the market. The building is partially owner-occupied by a church utilizing three separate areas, including a newly renovated reception hall. Additional on-site tenants include a daycare and a thrift store, further diversifying income streams. In total, there are eight established tenants and three vacant units ready for lease-up. Recent capital improvements include a new roof and multiple brand-new HVAC systems, reducing near-term maintenance concerns for the next owner. An added bonus is the included adjacent parcel (100L H 021.00), a 0.55-acre lot with frontage on S. Rogers St., offering excellent potential for additional parking, storage units, or future development. This property is ideal for an investor seeking steady income with room to grow, or for a religious organization looking to expand into a multi-use facility.

Features & Amenities

• Above Average Condition
• Average Condition
• Block Exterior
• Central Air
• Central Heating
• Church
• City Street
• Electricity Connected
• Fee Simple
• Garage Bay(s)
• Heat Pump
• Phase 3
• Professional Service
• Professional/Office
• Profit/Loss Statement
• Public Sewer
• Public Water
• Rental Rolls
• Rubber Roof
• Sewer Connected
• Water Connected

Listing Courtesy

TCI Group - Jerry Petzoldt Agency, LLC