4703 Melrose Ave
5 Unit Retail in Up and Coming Melrose Hill Neighborhood
Marketing description
4703 Melrose Avenue consists of approximately 4,018 square feet of retail/storefront space and benefits from strong street visibility, steady pedestrian activity, and excellent frontage on a signalized corridor. The property is 100% occupied with well-seasoned tenants, some of whom have been at this location for a decade or more. The current cap rate is 5.8%, with four out of the five tenants on month-to-month leases, providing flexibility to an investor. Its corner positioning and flexible unit sizes create significant leasing upside for both investors and owner-users.
The property is well suited for neighborhood-serving retail, food and beverage, service-oriented businesses, or boutique commercial tenants seeking exposure in a dense infill market. Small-format retail spaces in this submarket continue to command strong tenant demand due to limited supply and high consumer density. With convenient access, established surrounding businesses, and long-term redevelopment potential, the property offers both stable income and future value-add opportunities.
Investment highlights
- Four out of Five Units Month to Month.
- Extremely High Traffic of 42,637 Vehicles/Day.
- Excellent corner location.
- High-demand retail property with small unit sizes and low all-in rent costs for tenants.
- Exceptional Demographic Density — Over 83,000 People Within a 1-Mile Radius.
- Gentrifying Melrose Hill Neighborhood.
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