Description
SELLER FINANCING!! PARTIALLY DEVELOPED 2.34 ACRE COMMERCIAL LOT ON GOVERNMENT WAY WITH APPROXIMATELY 165 FEET OF FRONTAGE ON GOVERNMENT WAY. THE FRONT PORTION OF APPROXIMATELY ONE ACRE IS IMPROVED WITH A SEVEN UNIT OFFICE BUILDING, SHOP, SMALL HOME AND STORAGE SHED. THE CAP RATE IS 5.94% ON CURRENT NET INCOME FROM FRONT PORTION OF PROPERTY. THE REMAINING VACANT LAND OF APPROX. 60,000 SQ FT IS VALUED AT $10.00/SQ FT AND OFFERS MANY VIABLE DEVELOPMENT POSSIBILITIES " STORAGE UNITS, MULTI-TENANT WAREHOUSES, BOAT & RV STORAGE, OFFICE OR RETAIL OR ???. PROPERTY IS CURRENTLY ON SEPTIC " SEWER LID FEE HAS BEEN PAID. SELLER WILL CARRY $600,000. (TERMS TBD) FOR ONE YEAR OR UNTIL BUYER SECURES A BUILDING PERMIT, WHICHEVER OCCURS FIRST.
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0BEDS
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2.34ACRES
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0BATHS
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01/2 BATHS
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5,700SQFT
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$307$/SQFT
School Ratings & Info
Description
SELLER FINANCING!! PARTIALLY DEVELOPED 2.34 ACRE COMMERCIAL LOT ON GOVERNMENT WAY WITH APPROXIMATELY 165 FEET OF FRONTAGE ON GOVERNMENT WAY. THE FRONT PORTION OF APPROXIMATELY ONE ACRE IS IMPROVED WITH A SEVEN UNIT OFFICE BUILDING, SHOP, SMALL HOME AND STORAGE SHED. THE CAP RATE IS 5.94% ON CURRENT NET INCOME FROM FRONT PORTION OF PROPERTY. THE REMAINING VACANT LAND OF APPROX. 60,000 SQ FT IS VALUED AT $10.00/SQ FT AND OFFERS MANY VIABLE DEVELOPMENT POSSIBILITIES " STORAGE UNITS, MULTI-TENANT WAREHOUSES, BOAT & RV STORAGE, OFFICE OR RETAIL OR ???. PROPERTY IS CURRENTLY ON SEPTIC " SEWER LID FEE HAS BEEN PAID. SELLER WILL CARRY $600,000. (TERMS TBD) FOR ONE YEAR OR UNTIL BUYER SECURES A BUILDING PERMIT, WHICHEVER OCCURS FIRST.
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