The 18,120 square foot property was built in 1908 and sits on a 5,174 square foot lot. The building consists of eight apartment units on the 2nd,3rd and 4th floors and four commercial spaces on the ground floor. Three of the four retail spaces (approx. 2,685 sq ft on street level + approx. 2,685 basement) are currently leased to MIXT Greens and the fourth space is currently vacant (approx. 1,402 sq ft). The lease provides for annual bumps in the rent and a CAM, property tax and insurance recapture at 29.65%. The tenant has (2) five year options to extend the lease at market rate. Over $1,000,000 in recent improvements including new paint, roof, lighting. Tremendous upside in the rents.
Listing Courtesy of: Marcus & Millichap, Clinton Textor
MLS listing information is deemed reliable but is not guaranteed by the service.