Listed by TCI Group – Jerry Petzoldt Agency LLC
$900,000
307 S Depot St
Details
Property Type Retail, Office
Sub Type Day Care/Nursery, Traditional Office
Square Footage 32,220
Cap Rate 10.2%
NOI $91,838
Occupancy 82%
Tenancy Multi
Lease Type Modified
Price per SqFt $37
Year Built 1947
Buildings 1
Stories 1
Acreage 1.380
Investment Type Value Add
Retail | 10.20% CAP | 32,220 SqFt
Marketing description
PRICE REDUCED - OWNER MOTIVATED! This expansive property offers over 30,000 square feet of versatile space with multiple income streams and room for growth. One of the highest CAP rate opportunities on the market and 18% of the building is vacant to add a significant amount of value. Now bringing in a Net Income of $91,838.. The property features eight long-term tenants and two vacant units ideal for lease-up, presenting a strong value-add opportunity. Perfect for another religious organization or an investor seeking stable cash flow with upside potential. The current owner has also made quite a few capital improvements including multiple brand new HVAC units. Two spaces available for lease. Please see separate listing.
Listing Contacts
Listed by TCI Group – Jerry Petzoldt Agency LLC
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$91,838.00
$7,653.17/mo
Valuation Metrics
0
DSCR
10.2%
Cap Rate
10.2%
ROI
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