Description
Located on the northside of St. Joseph in Ashland Square, just off of Business I-29 (North Belt Highway). Occupancy 86%. In the last 5 years a new parking lot, roof, and HVACS installed. Lighting upgraded to LED for low maintenance. Most suites have been updated. In the last 2 years, two major tenants occupying 5,920 sq ft have had major updates to units. ATM machine on property with high return. Overall property currently at a 7% CAP rate, with room to improve up to 9% CAP with current month to month leases and 100% occupancy. Avg lease rate is $8.76 well below average, current lease rate in St. Joseph. Room to increase CAP rate even more!Showings must be scheduled with listing agent. Some leases are available for $11 per square foot and some are higher - please reach out for more detailed information.
-
0BEDS
-
1.69ACRES
-
0BATHS
-
01/2 BATHS
School Ratings & Info
Description
Located on the northside of St. Joseph in Ashland Square, just off of Business I-29 (North Belt Highway). Occupancy 86%. In the last 5 years a new parking lot, roof, and HVACS installed. Lighting upgraded to LED for low maintenance. Most suites have been updated. In the last 2 years, two major tenants occupying 5,920 sq ft have had major updates to units. ATM machine on property with high return. Overall property currently at a 7% CAP rate, with room to improve up to 9% CAP with current month to month leases and 100% occupancy. Avg lease rate is $8.76 well below average, current lease rate in St. Joseph. Room to increase CAP rate even more!Showings must be scheduled with listing agent. Some leases are available for $11 per square foot and some are higher - please reach out for more detailed information.
Heartland MLS Terms of Use
The information displayed on this page is confidential, proprietary, and copyrighted information of Heartland Multiple Listing Service, Inc. ("Heartland MLS"). Copyright 2023, Heartland Multiple Listing Service, Inc. Heartland MLS and Ron Henderson & Associates | Keller Williams Northland Partners do not make any warranty or representation concerning the timeliness or accuracy of the information displayed herein. In consideration for the receipt of the information on this page, the recipient agrees to use the information solely for the private non-commercial purpose of identifying a property in which the recipient has a good faith interest in acquiring. The data relating to real estate displayed on this website comes in part from the Heartland Multiple Listing Service database compilation. Data last updated: 2023-12-08T17:46:01.413.
Based on information submitted to the MLS GRID as of 2023-12-08T17:46:01.413 All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.