LakeTime Business Center presents an established income producing commercial investment opportunity along US 59, one of the primary corridors into Grove. The property combines office, event and storage income with additional potential to increase revenue through future rental adjustments and more active marketing.
The main building consists of approximately 7,000 square feet of steel frame construction and has been remodeled by the current owner. It includes 14 private offices currently leased to local businesses, three bathrooms and an approximately 40 x 30 event space that provides an additional source of income and flexibility.
The storage portion of the property includes 58 total units and is currently fully occupied. The unit mix includes 15 oversized 14 x 50 units, 16 14 x 40 units and 27 10 x 20 units. The larger units are well suited for boat and RV storage, an especially valuable use in the Grand Lake market.
The property currently produces income near the provided pro forma despite the seller not actively marketing the storage operation to its full potential. Current rental rates may also provide an opportunity for future increases, giving a new owner potential to grow revenue from an already established tenant and storage base.
The seller remodeled the commercial building and developed the storage units with the intention of creating the property for eventual resale. With multiple existing income streams, full storage occupancy and prominent exposure directly along US 59 entering Grove, the property offers an opportunity for an investor to acquire an operating commercial asset with additional upside.
P&L and additional financial information are available to qualified buyers. Seller is motivated and willing to negotiate.
Contact Lisa Arizpe for financial information, additional property details and all showing appointments.