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This industrial building was designed and constructed for five rental premises. The reported gross building area is 5,880 square feet. The building is now occupied by a single tenant, a medical marijuana producer. Each unit is now basically a shell and some of the bathroom fixtures removed. There are openings between each unit but some of these may have been already in place before the recent medical marijuana tenant. The interior will require renovating when the building is released. A new transformer has been installed on-site to handle the additional electrical needs. Upgraded main power to 800 amps 3 phase.
Asking Price
2,895,000
Land Area
0.65 Acres
Building Size
5,880 SF

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1069-1085 Gordon Ave
Listing Title
:
1069-1085 Gordon Ave
Listing Type
:
Commercial Real Estate
Zoning Type
:
Industrial
Type of Sale
:
Asset
Investment Income
:
120,000
Price SF
:
492.35
CAP Rate
:
4.15%
Tenanted
:
Yes

Property Highlights

.65 acres - 5800SF building - 4.15% CAP.

Address

    Available after signed NDA

Property Documents

    Available on Request

Property Description

This industrial building was designed and constructed for five rental premises. The reported gross building area is 5,880 square feet. The building is now occupied by a single tenant, a medical marijuana producer. Each unit is now basically a shell and some of the bathroom fixtures removed. There are openings between each unit but some of these may have been already in place before the recent medical marijuana tenant. The interior will require renovating when the building is released. A new transformer has been installed on-site to handle the additional electrical needs. Upgraded main power to 800 amps 3 phase.

Facilities Overview

Recent upgrades to the building include a new roof overlay (2014 installed), 10 new HVAC units (2018), and new metal siding along portions of the rear elevation wall. The exterior block requires repainting and fascia boards require either replacing and/or repainting. Some of the concrete blocks require sealing between cracks. Overall, the building has minor deferred repair items but is in overall average condition.

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