Price reduced by $1,000,000.00. Commercial property with high income, low maintenance and solid tenants. The property is a C-3 business park that was build in 2008. It is located in Lakeport, CA (the county seat), close to freeway entrance, and has easy access and space for large trucks to maneuver on the property. It has accumulated a core of solid long term tenants including several national corporations, local and state governments, a fitness gym, a brewery/restaurant, a manufacturing company and a number of smaller successful businesses. The park is comprised of five metal buildings that have 34 possible commercial units and 18 storage units (12 X 30). Some of the tenants are taking several units so presently full occupancy is only 18 tenants plus the storage rentals. Several of the storage units are used by the commercial tenants and the rest are rented to the general public. The parking lots handles 115 vehicles and the adjacent street offers more parking. CAM charges cover most of the ground and asphalt maintenance, lighting and liability insurance costs and the metal buildings are almost maintenance free. The property is being offered at a price for a cap rate above 7.5% at the current income and expenses. A must see property.
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Data Provided by:
California Regional Multiple Listing Service