622-628 Midland Ave
Mixed Use | 3,780 SqFt
Marketing description
The property located on Block 3816 spread over Lot #’s 22, 24, 25 & 26. Each address has two floors for a total of 3,780 square feet. Each address has a commercial unit in the basement, retail unit on the first floor and a residential unit on the top floor. All tenants pay their own utilities and reimburse the landlord for some taxes and water/sewer. The building is located on a main thoroughfare, walking distance to transportation, shopping, schools, and houses of worship.
Investment highlights
At the moment, the basement is used for storage purposes but planned sewer projects will allow the basements to be rented for an estimated $1,000 to $1,500 each. This would add approximately $48,000 to $72,000 to NOI per year.
The lots are being sold as one but owner will consider them being sold separately. Since building is fully occupied, pre-approval / proof of funds is required along with a bona fide offer “subject to viewing” for all showings.
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