Description
A great opportunity for investors, this building is located in downtown Concord and has two retail stores on the main floor and a large office on the second floor. All three spaces are fully leased around 7% CAP rate. It has been very well maintained by the current owner and has spent a lot of money renovating it including a new 2022 HVAC for the office on the second floor, new plumbing has been replaced in the basement, and the tenants have made several space improvements in their spaces. Tenants pay all utilities with liability insurance and the owner pays property tax and property insurance. The parking space behind the building belongs to the property and must be used for service parking only. There is a free public parking building behind this property, in addition of free street parking in front of it. Really it is considered a very rare opportunity for investors who are looking for secure and stable income with a great cap rate.
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0BEDS
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0.08ACRES
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0BATHS
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01/2 BATHS
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3,654SQFT
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$178$/SQFT
School Ratings & Info
Offered by Northgroup Real Estate, Inc.: 704-412-2804. Copyright 2023 Canopy MLS. All rights reserved.Description
A great opportunity for investors, this building is located in downtown Concord and has two retail stores on the main floor and a large office on the second floor. All three spaces are fully leased around 7% CAP rate. It has been very well maintained by the current owner and has spent a lot of money renovating it including a new 2022 HVAC for the office on the second floor, new plumbing has been replaced in the basement, and the tenants have made several space improvements in their spaces. Tenants pay all utilities with liability insurance and the owner pays property tax and property insurance. The parking space behind the building belongs to the property and must be used for service parking only. There is a free public parking building behind this property, in addition of free street parking in front of it. Really it is considered a very rare opportunity for investors who are looking for secure and stable income with a great cap rate.
Based on information submitted to the MLS GRID as of 2023-02-04T23:33:04.837 UTC. 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.The data relating to real estate on this Web site derive in part from the Canopy MLS IDX program. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. All properties are subject to prior sale, change or withdrawal. Neither Ann Rudd Group | Real Broker, LLC nor any listing broker shall be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing. © 2023 Canopy MLS.
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