This fully leased investment property has many value-add opportunities. An investor could instantly realize a higher return by converting current month-to-month tenants to longer term leases. Also converting certain modified gross leases to traditional retail triple net leases will allow for additional opportunity for higher returns. In the longer term, there is tremendous upside to bring the tenants to market rates. On a longer-term basis, this property is also a potential development site. By right, with an FAR of 1:1, a mixed use building of up to 55 units can be built and developed on this site.
|Cap Rate Percentage||3.59|
|Building Size||22,783 SF|
|Lot Size||1.42 AC|
• Traffic Count of 31,000 cars per day. • Located on a Signalized Corner • Rare 1.422 Acre Developable Lot • Fully Leased Investment • Tremendous Upside for ROIArea Description
Region: El Monte