Take a minute to consider this amazing property for sale. Located on traffic heavy West King Street, the exposure here has a very high traffic count. Only steps away from the Old Kilbourne Mill and it's $100,000,000 renovation into 411 condo's and 5000sq ft of commercial space, this property is poised for success. Enter past the huge front windows and into the 312sqft showroom where you'll find the customer counter and conference table. The offices are just behind the counter and lead into the Print Shop where you'll find the bathroom and more storage area. Windows and HVAC have been replaced in the last 5 years. The entire front footprint space is 2056sqft. This building has a solar array and power diverter to offset the majority of the electric bills. Huge benefit!
Exit to the back and into the Press Room. The Press Room is 1860sqft with 12ft ceilings and a 6in concrete pad. It has new commercial glass installed by Berkeley glass. This space also has its own solar array with power diverter to offset the electric bill. The back of the building has 12x10 commercial garage door for large truck access. There is a large concrete pad to pull in from the rear alley. The dumpster conveys with the sale. There is a huge storage room over the Press Room with ladder access.
In addition, there is a 2 garage with sliding door that is 22x18 with a large sliding door. Perfect for extra storage.
Exit the Press Room and enter the space above the Offices and Print Shop where you'll find 2, one bedroom apartments. The co-Owner currently lives in and one and its in perfect shape. The other one needs a small bathroom renovation to make it market ready.
This commercial mixed use property has 4 rentable spaces. The office/print shop has a rentable market value of about $2000. Each of the apartments could rent for about $1000 and the Press Room also has about a $2000 rent value. That's about $6000 if bought strictly for rental use. This equates to more than 10% cap rate.
The seller paid $98,000 for both solar arrays. The value for this type of improvement is measurable an very valuable. The location is also incredible as the area around it will explode in the next 1 to 3 years.
Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 26th September, 2023 1:55 AM (UTC)