OWNER FINANCING - 2 BUILDING OFFERING - 100% LEASED MIXED USE PROPERTY - 5 RESIDENTAIL UNITS & 3 COMMERCIAL UNITS
1. Combined building size is 7,250 square feet (5,250 sf & 2,000 sf)
2. Buildings must be sold together
3. Cap rate on 889-899 S. First Street is 7.20%
4. Cap rate on the smaller 885 S. 1st Street building is 7.90%
5. Prime signalized corner
6. Excellent 1031 Exchange property and long term investment
7. All apartments are on a month to month lease basis
8. The Fitness tenant lease ends in 9/31/2026 & the Event Space lease expires 9/30/2029
9. Buyer has the right to terminate the long term leases within 90 days of purchasing the property
10. The investment could be an excellent development opportunity
11. Seller will finance up to $1.5m of the sales price (terms are open for negotiation)