Investment Property with 5 year lease

Retail-Commercial for Sale
Catylist Listing ID: 30724994
Property Subtypes: Street Retail
Building Size (RSF): 7,650 SF
Gross Land Area: 3,750 SF
Sale Price: $274,900
Unit Price: $35.93 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Usable Size (USF): 3,800 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/21/2022

Overview / Comments

A Downtown Treasure and Investment property with 7650 sf! Exposed brick, high ceilings, beautifully restored hardwood floors make this charming 3-story building great for a downtown Loft and Income opportunity. Recently Remodeled (2021) for new 1st floor (3750sf) tenant include- new kitchen and prep area, ADA handicap bathroom ( in addition to existing bathroom) and up to code wash/dryer utility room. Nice 1st floor storage. Alley entrance. Current Tenant currently in a 5 year lease with renewals. One time Hair Salon/Spa occupied first floor therefore all plumbing remains on the first floor. Second floor is approx 1,950 SF - original gorgeous wood floors with new bathroom completed in 2021. Ideal for professional office space or other small business.
1950 sf on the 3rd floor which is roughed-in for 2 bedroom, 2 bath Loft according to proposed drawing. Would be a perfect VRBO or AirBnB for extra income. Building has had several upgrades over the years. Building is being sold as is in it present condition. Contact Maribeth Reimer 620-727-7806 for tour.

Additional Details

Nearest MSA: Hutchinson
County: Reno
Tax ID/APN: 0781261301015004000
Retail Clientele: General
Property Visibility: Excellent
Largest Nearby Street: Main Street
Tenancy: Single Tenant
Number of Stories: 3
Property Condition: Good
Year Built: 1930
Year Renovated: 2021
Roof Type: Flat
Construction/Siding: Brick
Parking Type: Other
Parking Description: Main Street Parking; Area City lots available also
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Other
Interior Description: First floor recently remodeled for 5 year tenant with ADA bathroom, storage area and kitchen food prep area. 2nd floor approx 1900sf gorgeous wood floors, finished bathroom; 3rd floor unfinished but ready to finish out for 2 bedroom loft!
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,842 41,920 47,646
Median Age: 30.62 38.88 39.51
Households: 4,766 17,199 19,344


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