This prime commercial property offers a versatile investment opportunity with both office and warehouse components. The top floor features seven offices currently rented on a month-to-month basis, providing flexible tenancy options, while the main floor office area offers an excellent opportunity for an investor to secure additional income or for an owner-user seeking their own space, and the owner also has the option to lease out this main floor office area to further boost revenue. And that's not all! The main floor also includes a considerably large warehouse space at the back that is also rented out. This property has historically generated $8,200 per month at full occupancy, supporting an estimated cap rate in the mid-8% range, a remarkably strong return for a property in this location and asset class. Even for an owner-user who occupies part of the building, the remaining rentable areas still provide the opportunity to achieve a highly attractive cap rate, making this property a strong and flexible income-generating asset. Situated in a high-traffic, rapidly growing business area, this property delivers outstanding long-term potential with the opportunity to further enhance returns through strategic leasing. (id:27476)
