Property Description

Excellent opportunity to acquire a multi-tenant commercial building along the highly trafficked NW 63rd Street corridor. Situated on a 32,016 SF lot and zoned C-3, the property offers strong visibility, flexible suite configurations, and immediate upside potential. Currently aprx. 70% leased with 25 configurable suites, the building generates $97,871 in gross annual income and approximately $49,885 NOI. Leases are modified gross with 1-3 year terms, and most include 3% annual increases. Approximately 4,854 SF is available, creating immediate lease-up opportunity. Current asking lease rates of $10/SF are below market, offering clear potential to increase income over time.Ideal for both investors and owner-occupants. Approximately 1,919 SF is available on the first floor, 1,404 sqft of which is functioning Hair Salon. An additional 2,935 sqft space is available upstairs, currently separated in 5 units, allowing a business to occupy immediately while benefiting from in-place tenant income. Any of the spaces can be connected or separated to fit your needs.Recent capital improvements include a new 20-year warranty roof (2019), three of eight five-ton HVAC units replaced within the past six years, and a full LED lighting retrofit converting all T8 fluorescent fixtures to energy-efficient LED tubes-significantly reducing operating expenses.Located within a quarter mile of major intersections and surrounded by national and regional retailers, the property benefits from approximately 49,400 vehicles per day, strong accessibility, and long-term repositioning potential.

Property Features