Cranbrook Realty Corp
Listed by Cranbrook Realty Corp
$899,888
3912 Merrill Ave
Details
APN 225-133-009
Property Type Office, Retail
Sub Type Convenience Store
Square Footage 3,060
Net Rentable (SqFt) 3,060
Units 1
Cap Rate 4.70%
NOI $47,000
Occupancy 100%
Lease Type Modified
Lease Term 3
Lease Expiration 01/31/2026
Remaining Term 1
Rent Bumps No
Lease Options none
Price per SqFt $327
Class C
Year Built 1958
Year Renovated 2022
Buildings 1
Stories 1
Lot Size (SqFt) 7,840
Zoning CG Commercial General
Parking Spaces 9 spaces
Parking Per SqFt 2.94
Investment Type Owner/User
Occupancy Date 02/01/2023
Ground Lease No
Ownership Individual
Office | 4.70% CAP | 3,060 SqFt
Marketing description
One Story Wood frame Slab on Grade Building with store front windows.
One year remaining on retail tenant.
Currently Leased way under market at $1.54 per sq. ft.
See attached marketing Brochure
Investment highlights
Either Owner User or Investment property lease at market rate
See attached marketing brochure with all details.
Buy at below market based on NOI of lower rent.
Listing Contacts
Cranbrook Realty Corp
Listed by Cranbrook Realty Corp
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$47,000.00
$3,916.67/mo
Valuation Metrics
0
DSCR
5.22%
Cap Rate
5.22%
ROI
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