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| Bedrooms: | 0 | Full Bathrooms: | 0 | Half Bathrooms: | 0 |
| Type: | Commercial Sale | Sub Type: | MLS Number: | 9994142 | |
| Living Area: | 22,900 | Lot Acreage: | 1 | Year Built: | 1947 |
| Elementary School: | Middle School: | High School: |
Property 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.
Listing Status
Active
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More Listing Info
AC:Central Air true AC:Heat Pump3 true Business Type:Church true Business Type:Professional Service true Business Type:ProfessionalOffice true Contract Info:Foreclosure No Development Status:See Remarks37 true Easements:See Remarks18 true Electric Service:Phase 3 true Electric Service:See Remarks36 true Exterior Finish:Block5 true General Property Description:# Parking Spaces 25 General Property Description:# Restrooms 4 General Property Description:Acres 1.38 General Property Description:Annual Lease 0.0 General Property Description:HOA YN No General Property Description:Lease No General Property Description:Lot Size2 179 x 202 General Property Description:Price LeaseSqFt 0.0 General Property Description:Road Frontage Length 382 General Property Description:Stories3 1.0 General Property Description:Total SqFt Finished 22900.0 General Property Description:Total SqFt Unfinished 0.0 General Property Description:Zoning2 HB-3 Heating:Central true Heating:Heat Pump2 true Info Available:ProfitLoss Statement true Info Available:Rental Roles true Location Tax Legal Info:City Taxes 3424.71 Location Tax Legal Info:County Taxes 4763.82 Location Tax Legal Info:Deed Book # 1601 Location Tax Legal Info:Deed Page # 291 Location Tax Legal Info:Plat Map H Other Equipment:Garage Bay(s) true Property Condition:Above Average true Property Condition:Average true Remarks Misc:Directions3 From Highway 11W turn onto N Hasson St., go 0.4 miles and turn left on W Main St.. Go 350 ft. to building Remarks Misc:Public Remarks7 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. Restrictions:See Remarks34 true Road Access:City Street true Roof:Rubber true Sale Includes:Fee Simple true Sale Includes:See Remarks35 true Sewer:Public Sewer true Utilities:Electricity Connected true Utilities:Sewer Connected true Utilities:Water Connected true Water:Public true Videos: (none) Virtual Tours: (none)
Listing Courtesy:
TCI Group - Jerry Petzoldt Agency, LLC
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