$1,099,000

About this property

Investor/Builder/Contractor Alert: Strong value-add mixed-use investment offering immediate cash flow and significant upside. The property is currently operating at an approximate 9.4% CAP rate, generating $103,000+ in annual net income, with potential to increase to approximately $121,000-an estimated 11% CAP-through cosmetic improvements and market rent adjustments. The approximately 8,000 sq. ft. building is priced below replacement cost and offered "as is, where is." It consists of 4 residential and 3 commercial units. The commercial units are rented month-to-month, with consistent rent collection, but are currently underutilized and primarily used for storage.CC2 Community Commercial zoning permits a wide range of income-producing uses, including restaurants, daycare, take-out food, convenience stores, retail, offices, medical clinics, fitness facilities, etc. The location offers excellent potential for a convenience store or take-out concept, with no similar businesses within approximately 0.5 km. Located near major new developments-including a 300,000+ sq. ft. manufacturing facility and new townhome communities-the property benefits from continued area growth. Additional upside may include adding units at the rear, constructing a third floor, or converting the main floor into four residential units and one commercial unit (subject to buyer due diligence; concept drawings available for reference). Concept drawings and the information brochure are attached to the listing.

Features

Property Details

Location & Walkability