Description
Great investment opportunity. Priced at almost an 11% CAP rate and an 18% cash on cash return. Highly visible building on W. Locust St with average daily traffic counts of 15,600. Mixed use space with 2400 sq ft commercial space on main floor and two 1,200 sq ft residential units on the 2nd floor. Currently commercial space is leased for $1,300 per month and one residential unit is rented for $675 per month. 2nd residential unit is currently vacant so it can be shown, but a 1 yr lease starting Feb. 1st, 2021 for $725 per month was just signed. Basement is currently common space for all tenants with coin operated laundry. Commercial tenant also has access to private storage space. 3rd floor attic offers further storage potential. Off street parking in rear lot provides 12 parking spaces.
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0BEDS
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0.21ACRES
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01/2 BATHS
School Ratings & Info
Description
Great investment opportunity. Priced at almost an 11% CAP rate and an 18% cash on cash return. Highly visible building on W. Locust St with average daily traffic counts of 15,600. Mixed use space with 2400 sq ft commercial space on main floor and two 1,200 sq ft residential units on the 2nd floor. Currently commercial space is leased for $1,300 per month and one residential unit is rented for $675 per month. 2nd residential unit is currently vacant so it can be shown, but a 1 yr lease starting Feb. 1st, 2021 for $725 per month was just signed. Basement is currently common space for all tenants with coin operated laundry. Commercial tenant also has access to private storage space. 3rd floor attic offers further storage potential. Off street parking in rear lot provides 12 parking spaces.
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