Listed by CENTURY 21 Universal Real Estate
$1,950,000
2309 West Devon Avenue
Details
Property Type Retail, Mixed Use
Sub Type Restaurant
Square Footage 9,300
Net Rentable (SqFt) 5
Units 2
Cap Rate 7.20%
NOI $128,853
Occupancy 100%
Tenancy Multi
Lease Type Gross
Lease Term 1
Lease Expiration 12/31/2026
Remaining Term 0.4
Rent Bumps No
Pro-Forma Cap Rate 7.60%
Pro-Forma NOI $143,253
Year Built 1928
Year Renovated 2024
Zoning B3-1
Investment Type Stabilized
Lease Commencement 01/01/2026
Ground Lease No
7.2 % cap rate rehabbed center of "LITTLE INIDA" Location
Investment highlights
This rare 50-foot frontage building features four oversized residential apartments plus an impressive approximately 5,000 sq. ft. state-of-the-art restaurant space at street level.
Current ownership has invested more than $400,000 in capital improvements over the past two years
With a reported NOI of approximately $128,853,
Listing Contacts
Listed by CENTURY 21 Universal Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$128,853.00
$10,737.75/mo
Valuation Metrics
0
DSCR
6.61%
Cap Rate
6.61%
ROI
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