Here is almost a million dollar portfolio upon TLC and putting into prudent use of every space available. It is a mixed use property with 15 car parking spots, one docking area with functional fork lift system for loading/unloading merchandises at the front and a large unfinished basement with a conveyor belt running from first floor to navigate merchandise to and from basement. The two central ACs that are on the roof top are only for the GROCERY UNIT. The seller will vacate any and all existing business in the property before closing. So, no tenant will be in the property by closing day!
The MAIN UNIT is the large grocery store at the Smith Street side and can collect a projected rent of $3000 per month. This unit has extra rooms with bathroom that can be used as living quarters/storage/etc. and can be rented for $1000 per month.
The other main unit is the RESIDENTIAL UNITS at the 2nd floor comprising of five one-bedroom apartments with their own kitchen/bathroom/living room/furnaces. Each apartment is projected to collect $750 per month upon some cosmetic repairs.
The 3RD UNIT comprises of two additional spaces at the first floor with entrance from the Lake Avenue side. These can be used for any small scale service business/garment store/jewelry store/etc. and can fetch $1000 each space upon some cosmetic repairs.
The current chief issue is the roof leakage and subsequent few damages due to it. The seller is selling the land and building only on “as is” conditions. The seller will leave both the large coolers that are outside the grocery unit, some coolers/fish-meat storage shelves inside the grocery unit and all refrigerators and stoves in the residential units. All these personal properties are also sold on “as is” conditions. All other display racks and all the coolers on the south side of the grocery store will not remain.
SO, SPEND SOME SWEAT EQUITY, PUT THE SPACES INTO PROMISING USE AND EARN A GROSS PROJECTED INCOME OF OVER $100,000 ANNUALY.
