Automotive/Retail Space Collecting Rent

Project Description

Commercial Real Estate Investment Opportunity
Property Type — Commercial
YEAR BUILT – 1956

Two commercial buildings available for rent. One is currently being rented. Another is vacant.

Specs — Approx. 1 Acre

AMAZING LOCATION WITH A WIDE FRONTAGE ON HOLLYWOOD BLVD
Steps away from Florida Turnpike and 441. More than 50,000 cars per day.

Two Buildings — Automotive, Retail

CURRENTLY BRINGING IN MONTHLY INCOME
One building is approx. 3,500 sq ft and rented by an retail store. Another building is approx. 4,500 sq ft and was outfitted as an auto showroom but is currently vacant.
Financials

Building #1, 3,500 Sq. Ft — $9,000/Month + Taxes
RETAIL STORE – TENANT THERE FOR APPROX. 20 YEARS
Tenant owns an audio store, is on-time with rent and has been there for a long time.
Building #2, Approx. 4,500 Sq. Ft. — Vacant

AUTOMOTIVE SHOWROOM
Approximate market value would bring in at least $10,000/month in rent. Highly trafficked road and very visible from the street.

Maintenance
Maintenance Costs — Approx. $22,000/Yr

Costs are relatively minimal. $12,000 maintenance for the auto showroom and $10,000 for the audio store.

Opportunity
Seller is looking for a fast deal as he needs to liquidate the asset from the portfolio. Willing to take a major reduction from market value.
Improvements to Enhance Market Value
Pave parking lot and create defined lines
Paint buildings
Fix fences
Landscape Property
Better signage
Offer Details

Approx. Market Value on this Property with a proper listing would be well over $3,000,000. Seller is looking for an immediate liquidation and will take a substantial reduction.

To give you an idea, a 2,200 sq ft building down the street is on the market for $2.2 million.

Will send you more details upon request. Accepting all best offers.

Details

Date July, 18th 2016
Location Hollywood, FL
Value $2,499,999
Category Real Estate
Client jarbly.com