Description

Located in a Complete Communities Tier 3 + Opportunity Zone at the heart of City Heights is 4604 University Avenue. This is a rare opportunity to acquire freestanding corner building consisting of 6,438 square feet and located on a 9,258 square foot parcel. Perfect for the owner/user the property is zoned for commercial and can be used for various purposes.  Currently the month-to-month tenant ($8,000 mo) is using it as storage for his retail/wholesale business. 6 o? street gated parking spaces plus two 30-minute street spaces ensure customers easy access should the property be used for retail in the future. This asset provides a solid current 3.4% CAP rate with the current month to month tenant. Rental upside here as the property is currently rented well below market at $1.24 per square foot. A market CAP rate of 4.8% can be achieved simply by bringing the rent up to the surrounding market rate of $1.60 per square foot. Over 23,000 vehicles drive by the property every day on University Avenue giving any future business plenty of exposure.....

Features

• 0.21 Acres
• 1 Story