Airport II Leasehold Investment

LEASEHOLD INVESTMENT OPPORTUNITY
FEATURES:
-Located on busy corner with traffic signal!
-High Ceilings
-Plenty of parking in front and rear
-Some units have rear bay doors
-Lush landscaping with attractive design
-Busy area in path of future growth
-Two 1,750 SF units, two approximate 2,000 SF units and one 3,373 SF unit.

BUILDING: 10,938 SF 5 Unit Retail Building
PROPERTY SIZE: 1.64 Acres with 231.37 ft. of frontage on Aviation Blvd. and 250 ft. of depth .
YEAR BUILT: 2005
ZONING: (ALI-1) - Airport Light Industrial
UTILITIES: City Water, Sewer & Electric
R.E. TAXES: $11,702.22 (2016)
PROJECTED NOI: $58,000 (Based on 5% vacancy, currently 52% occupied)
CAP RATE: 10% (Based on 5% vacancy, currently 53% occupied)
SALE PRICE: $549,000 (17 years left on land lease)