This property offers exceptional flexibility for both investors and owner-users. 50% of the building is currently occupied by the owner and the other 50% is home to existing tenants, all of whom can vacate within 30 days, creating a rare opportunity for a buyer to take full possession of the property if desired.
A new owner may choose to:
Occupy the entire building or maintain the current tenants while occupying the top two floors, allowing for owner use while still benefiting from ongoing rental income.
The building is concrete construction, offering enhanced durability and resilience, making it a safe and secure option in the event of hurricanes and other natural disasters.
The pro forma cap rate is based solely on current tenant rental income and does not include any rent attributed to the space currently occupied by the owner, presenting additional upside potential upon lease-up or repositioning.
This property is well-suited for buyers seeking flexibility, stability, and long-term value with multiple occupancy.