Description
Investment opportunity. 8.7% cap rate. Nearly 1 acre. Further development and income possible. Large commercial building (approx 5500SF) with long-term tenant in automotive service/repair. Thriving business. Current lease ends Nov 2025 with option for additional 5 years. Non-disclosure agreement required. NOI currently in excess of $60k/year. Residential property (approx 1200SF) currently vacant; needs significant work. Sale does not include any of the lessee's personal property or FF&E.
Description
Investment opportunity. 8.7% cap rate. Nearly 1 acre. Further development and income possible. Large commercial building (approx 5500SF) with long-term tenant in automotive service/repair. Thriving business. Current lease ends Nov 2025 with option for additional 5 years. Non-disclosure agreement required. NOI currently in excess of $60k/year. Residential property (approx 1200SF) currently vacant; needs significant work. Sale does not include any of the lessee's personal property or FF&E.
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