PROPERTY IS CURRENTLY 100% LEASED. GENERATING $153,600 PER YEAR. TENANTS ARE PARKER PERFORMANCE, FRANKS TOWING AND IMPOUND AND COMMIUNITY BIKES. RENTS ARE EXTREMELY LOW. FRANKS TOW AND COMMUNITY BIKES ARE ON MONTH TO MONTH. PARKER PERFORMANCE HAS 4 YEARS REMAINING ON A 5 YEAR LEASE WITH A LESSOR TERMINATION CLAUSE OPTION AT THE 48TH MONTH. PROPERTY IS ON WELL WATER AND SEPTIC. ALL TENANTS PAY FOR THEIR OWN UTILITIES.
OWNER HAS RECENTLY RENOVATED AND COMPLETED ALL DEFERRED MAINTENANCE ITEMS ON ALL IMPROVEMENTS ON THE PROPERTY.
INCLUDING UPGRADING THE SEPTIC SYSTEM, INSTALLING NEW WELL EQUIPMENT AND FILTRATION SYSTEM FOR THE WATER.
PROPERTY IS ZONING R-18 / CG. OWNER HAD FEASIBILITY STUDY DONE BY AXIA ARCHITECS SHOWING ALLOWABLE USES INCLUDE MULTI FAMILY OF 75+ UNITS, A SMALL LOT SUBDIVISION OF 29 SFR LOTS. STUDENT HOUSING WITH LIMITED RETAIL.