PREMIERE SIGNAGE! No other property in the area can provide such prominent exposure for your company's name. +20-foot long backlit signs may be installed facing 7th Avenue and Island Avenue at their intersection which has approx 23,200 cars per day. Two blocks from Petco Park which has over 3.5 million visitors per year, providing high levels of visibility for your signage.
An owner/user may occupy one, two, three, or all four floors. Or, all tenants can remain in place on long-term leases and a buyer may acquire this as a high-yielding investment property. For an owner/user who occupies two floors and collects rent from tenants on the other two floors, the projected net cost after receiving rents and deducting expenses is projected at approx $.75 per square foot per month.
For an investor, on a 10-year hold the pro forma leveraged IRR is approx 14.4% and the projected gain on investment is approx $5.7 million.
The property is also zoned for residential, so part or all of the spaces may be converted to apartments or condos in the future, if desired.