2331 SW Lee Blvd

Description

Excellent investment opportunity! This fully leased commercial property features two office suites in the front building and 11 warehouse bays in the back. The two office suites are separated by a firewall. One office suite is an open area with a small bathroom, a small office, and a small storage area and is currently rented by a church. The second office suite was previously a radio station and has a large open area for workstations, three private offices that were recording studios, and a large executive office that is large enough for an executive desk with a credenza and conference room table. This suite also has a handicap-accessible restroom. The church is expanding into this suite as well in June 2023. There are 10 parking spaces in front of the office building. Behind the office building is an attached warehouse building with 11 roll-up doors. The warehouse space is divided into 5 spaces that are each separated by a firewall. All five warehouse spaces have private restrooms. The warehouse spaces have electricity but no heating or cooling provided by the landlord. There is also a fenced area for parking and storage of personal property for the warehouse spaces. All the warehouse spaces are currently leased. Each of the office suites and each of the warehouse spaces are metered separately for electricity. However, there is only one water meter that is paid by the landlord and this bill averages $375 monthly. The monthly income is $3,450 and the average monthly expenses (Insurance, Taxes, and Utilities) are $877.25 with a total net income of $2,572.75 with an annual estimated NOI of $30,173. This property is listed at a 9% cap rate. All leases are current and available along with financials for the property for the past few years. The lot dimensions are 100 of road frontage along Lee Blvd by 330 back to the North. The property is currently zoned I-1. The office building was renovated in 2012. The roof polyurethane foam, acrylic base coat, and acrylic top coat was replaced in 2017. The parking lot was resurfaced with a hot mix in 2017 and the exterior of the office building was repainted in 2022. Please contact Kim Thomas for details or to schedule a tour of the property, 580-704-9916.