10 Dewitt Street
Mix use of medical offices and individual salon suites - Value Add Opportunity
Marketing description
An exceptional opportunity for investors seeking a stabilized, low-maintenance asset in the heart of Jacksonville. This mixed-use property features a combination of office and salon suite spaces with long-term tenants and minimal vacancy. The property currently produces approximately $9,505 per month in gross rents (~$114K annually) with room for additional upside through incremental rent growth or light re-tenanting.
Comprising multiple freestanding buildings totaling nearly 4,900 square feet, each structure is individually metered for utilities, ensuring simple expense allocation and low overhead. Extensive capital improvements have been completed in recent years, greatly reducing ongoing maintenance needs and positioning the property for durable cash flow.
Investment highlights
2 building already set up for individual salon suites. With light remodeling the other two buildings can easily be turned into individual suites as well. This change could increase rents to $15000-$16000/mo.
Recent improvements include:
Building 2: new HVAC system, every suite plumbed for salon use, individual exhaust fans, washer & dryer installed, new vapor barrier and crawl-space insulation.
Building 4: each suite plumbed and vented with exhaust fans; insulation and vapor barrier upgraded in crawl space.
Building 8: new hvac system, vapor barrier, and insulation.
Building 10: vapor barrier, insulation, and new sump pump installation.
Parking lot fully rehabbed, plus many other small repairs and improvements throughout the property.
With all major systems recently addressed, potential for multi-year leases to be put in place, and individually metered utilities, this property offers steady income and strong returns in a growing eastern north carolina market.
Ideally situated near camp Lejeune, major retail corridors, and established residential neighborhoods, 10 Dewitt street provides the stability, flexibility, and performance investors seek in today's market.
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