Remarks

340 North Ave offers a unique commercial property totaling 16,395 square feet, divided into two distinct buildings that cater to diverse business needs. The 11,595 square foot front building features three versatile units, ideal for retail, office, or market uses, benefiting from high visibility and easy access. The second building encompasses 4,800 square feet of warehouse space, equipped with 12-foot overhead doors for convenient loading and unloading, and includes a restroom for added functionality. This property presents a valuable opportunity for businesses seeking both prime storefront visibility and functional storage space. Tenants can remain for the Buyer. Note: 2 Leases are older and yield a low rent. Leases are available upon request, with signed NDA APOD 4.7% cap rate, NOI= $75,476 Proforma 8.4% cap rate, NOI = $133,928 Unit 338 is leased 3600 SF at $16/SF NNN. This 2023 total remodel has remarkably new finishes using today’s modern theme and materials. The electrical service was renewed to standard codes, as well as the updated roof. Unit 340 is the current established institution – Quality Meat Market. This business occupies 7315 SF, which includes the retail service area and coolers, a back room with large freezers and meat processing system. Part of the back area is used for storage, as this tenant has occupied the space for 45+ years. and this tenant is not quite ready for a complete remodel. The electrical service was recently improved, this new service brought the space to meet current codes. Unit 342 is a small nicely finished office unit redone in 2023 for a Land Development professional to occupy the space. The 680 SF space was rebuilt to have new electrical service, new LED lighting, insultation and flooring. The units 338 and 340 space connect in the back common space, allowing the 4800 Sf warehouse to utilize the overhead door directly behind the office unit 348. The Second building in the back of the Property is a 4800 SF warehouse. The warehouse is freespan and boosts a14 eave height and one12 foot overhead door on east side. This building was added to the Property in 1993, giving this Property more flexibility, storage and room to grow.

Details

MLS#: 20244553
Price: $1,590,000

Style: Commercial

County: Mesa
Lot Size: 100x300
Tax Fee: 13750