Fully Leased Investment Property - Retail/Apts

Retail-Commercial for Sale
Catylist Listing ID: 30049013
Property Subtypes: Mixed Use, Restaurant, Retail-Pad, Street Retail, Other
Building Size (RSF): 4,644 SF
Gross Land Area: 0.63 Acres
Sale Price: $169,000
Unit Price: $36.39 PSF
Property Use Type: Investment, Business
Sale Terms: Cash to Seller, Other
Last Updated: 10/2/2017

Overview / Comments

This property currently brings in around $1,450 a month and there is still growth opportunity! Don't miss out on this instant cash flow opportunity! 2 buildings zoned commercial with 2 leases in place and room for expansion! Building #1 has a Pizzeria that is well established and has a 5+5+5 year lease. 2 bedroom apt upstairs leased out. Building #2 has finished road frontage space available and then has over 1500 square feet of room to finish off for whatever income stream you'd like! Solid tenants! This is Investment Property only with tenant leases. The Pizzeria business is NOT for sale but serves as a great tenant.

Current Tenants

Tenant Business Name Russo's Pizza
Is Renting? Yes
Annual Revenue $9,000 (Annual)
SF of Space Occupied 882 SF
Current Rent $750 PSF (Annual)
Tenant Notes Long term tenant with a 5+5+5 year lease.
Tenant Business Name Leased apartment
Is Renting? Yes
Annual Revenue $8,400 (Annual)
SF of Space Occupied 882 SF
Tenant Notes Leased!
Tenant Business Name Road frontage space Available!
SF of Space Occupied 800 SF
Tenant Notes Road Frontage commercial space!

Additional Details

Nearest MSA: Holland
County: Allegan
Taxing Authority: Salem Township
Tax ID/APN: 03-19-015-026-00
Retail Clientele: General, Family, Business
Property Located Between: 142nd Avenue and 143rd Avenue
Property Visibility: Excellent
Largest Nearby Street: 142nd Avenue
Feet of Frontage: 83
Site Description: 2 Investment buildings on each side of the property with a shared driveway that runs between them.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 2
Property Condition: Average
Parking Type: Surface
Heat Type: Natural Gas
Heat Source: Central
Internet Access: Cable
Zoning Description: Commercial - General Business
Lot Frontage: 83
Lot Depth: 328
Water Service: Well
Sewer Type: Septic
Legal Description: COM 280.5' S OF NW COR SW 1/4 TH E 326.2' TH S 16.5' TH E 4' TH S 66' TH W 330' TH N 82.5' TO BEG SEC 15 T4N R13W (71)

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 4,374 7,608
Median Age: 34.79 34.49
Households: 1,499 2,533


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