This well-established commercial complex consists of four buildings with a total leasable square footage of 27,845 and 17 total units, many of which are occupied by long-term tenants. The property generates an annual net operating income of $371,364, with total revenues of $461,364 and expenses of $90,000. With approximately 10,000 square feet of roughed-out space available for lease at a competitive rate of $1.50 per square foot ($1.10 for rent and $0.40 for CAMs), there is substantial income potential., If fully leased, the cap rate could reach nine percent. Given that replacement costs exceed $12 million, this is a rare opportunity to acquire a high-performing asset well below today's construction costs. Whether seeking stable cash flow or a value-add investment, this property presents an outstanding opportunity
Listed By
Agency Name: RE/MAX Gold-Carson City
Agency Phone: 775-885-2200
Agent Name: Garrett Lepire
Agent Phone: 775-720-4712
Presented By
Agent Name: Marlene Pierce
Agent Phone: 530.545.8907
Agency Title: Chase International Real Estate
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931-939 Mica Drive, Carson City, NV 89705.
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