308-310 3rd Street
Mixed Use | 8.80% CAP | 3,350 SqFt
Marketing description
We are pleased to present the exclusive opportunity to acquire 308-310 3rd Street, a fully occupied mixed-use investment property located in the heart of California, PA. The property consists of a ground-floor commercial space leased to Rootz Salon & Spa and two renovated 2-bedroom residential units above, providing stable and diversified in-place income.
The asset generates approximately $32,100 in gross annual income and $22,348 NOI, delivering an attractive in-place 8.8% capitalization rate at the current asking price. The commercial lease includes contractual rent escalations and renewal options through 2029, while current residential rents offer additional upside potential upon renewal or turnover.
Positioned along California’s primary commercial corridor and within walking distance of PennWest California, the property benefits from strong visibility, steady residential demand, and a consistent local tenant base. With low operating expenses, 100% occupancy, and minimal management requirements, this offering presents an attractive opportunity for investors seeking stabilized cash flow with future rental growth potential.
Investment highlights
• 8.8% CAP Rate | Stabilized Cash Flow
100% occupied mixed-use asset generating $32,100 in gross annual income and approximately $22,348 NOI at the current asking price.
• Diversified Income Stream
Income derived from one ground-floor commercial tenant (Rootz Salon & Spa) and two fully occupied 2-bedroom residential units.
• Built-In Rental Upside
Commercial lease includes contractual rent escalations and renewal options through 2029, while current residential rents provide future growth potential upon turnover or renewal.
• University-Driven Rental Demand
Located within walking distance of PennWest California, supporting consistent residential occupancy and long-term rental demand.
• Prime Main Street Visibility
Positioned along California’s primary commercial corridor with strong visibility, walkability, and convenient access to local businesses and campus amenities.
• Low-Maintenance Investment Opportunity
Self-managed asset with low annual operating expenses and stable in-place tenancy.
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