3639 Franklin Blvd
Retail | 9.00% CAP | 2,780 SqFt
Marketing description
Turton Commercial Real Estate is proud to offer the opportunity to acquire fee simple interest in 3639 Franklin Blvd, consisting of a 7,173 SF parcel with a well-maintained 2,780 SF standalone building. At just $274 per SF, this site represents a unique value proposition for an owner-user or retail investor, as these "bite-sized" properties become increasingly rare within Curtis Park and other established central city neighborhoods. The $763,000 sale price represents an approximate 9% cap rate on a hybrid of existing and pro-forma modified gross rents, less potential improvements. The remaining 1,260 SF suite is currently vacant with full hair salon infrastructure in place and ready for immediate owner-user or NNN tenant occupancy.
The Property may also be purchased as a future infill development site, with the recently adopted 2040 General Plan allowing for a minimum of 15 Residential Dwelling Units Per Net Acre and a Maximum Floor Area Ratio of 4.0, by right.
Investment highlights
- Bite-sized Curtis Park retail property with potential for an infill development site for sale.
- 7,173 SF parcel with a well-maintained 2,780 SF standalone building
- $274 per SF
- 9% cap rate on a hybrid of existing and pro-forma modified gross rents
- 1,260 SF suite currently vacant with full hair salon infrastructure in place
- Ready for immediate owner-user or NNN tenant occupancy
- 2040 General Plan allowing for a minimum of 15 Residential Dwelling Units Per Net Acre and a Maximum Floor Area Ratio of 4.0, by right
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