Sold price:

$590,000

Sold on 07/07/2020

Listed by Encore Real Estate Brokerage

Description

Fully Leased!!! Rare opportunity to own a multi-tenant flex building with a high rate of return! This building has an eye popping current cap rate at 9.3%. The property could also work great as an owner-occupied investment. An owner occupant can stay in this building for virtually FREE and have the tenants pay the mortgage with the additional cash flow from the tenant occupied units. Tenants are recession and internet resistant. This five-tenant building has massive electrical input with 3 phase power to the building. The building's large parking lot and overhead doors add additional value and desire to this spectacular investment. Parking ratio is 2.75 stalls per 1,000 square feet.

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Property Details

Features Commercial/Industrial

Type of Commercial: Manufacturing, Office(s), Warehouse Type of Industrial:
Total Est Sq Ft: 16,000 Lot Size: Rectangular
Est Acreage: 1.05 Est Year Built: 1980
Taxes: $6,928 Tax Year: 2019
Location: Industrial Park Road Frontage: Town/City Road
Zoning: M-2

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Listing History

Date Event Change
Jul 7 2020 7:38PM Status Change Sold
May 6 2020 1:38PM Status Change ActiveWO
Apr 15 2020 12:11PM Price Change $585,000

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