Description
Investment opportunity to purchase the Flanagan Building at the highly visible and trafficked, t-intersection in the heart of Phenix. This property is truly a Phenix that defies traditional "Cap Rate" calculations. The Seller seeks an entrepreneurial buyer with enough vision and acumen to realize its true value. This commercial mixed-use building consists of 5 currently leased residential units (three-2bed & two-1bed)(each unit has own water tank & Furnace), that sit atop 3 vacant, commercial units (Zoned for 5 Commercial - see additional Tax Card #2), awaiting your vendors unique specifications to launch their businesses. The 1st Commercial Unit was a Bar for 30 years, and has been completely gutted, but for the HVAC Return and duct work. It is plumbed for 2 Restrooms and a kitchenette space, and ready to be rebuilt to your specs. The 2nd, middle unit has a fully equipped kitchen (former Take-out), perfect for a stand alone, take-out restaurant, or retrofitted to augment the adjacent unit, that could to be built-out to spec as a pub/tavern. The 3rd unit is move-in ready, awaiting your new tenant's specs . Both parking lots exceed commercial and residential needs. Agents and Buyers are to exercise their own due diligence as to the permits and zoning of the building's past and present layout, configuration, and usage. General Selling Terms: AS-IS & at ASKING PRICE (traditional Cap Rates do not apply). Seller May Consider Financing ONLY IF Offer Exceeds Asking Price.
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0BEDS
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0.42ACRES
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0BATHS
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01/2 BATHS
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7,200SQFT
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$118$/SQFT
School Ratings & Info
Description
Investment opportunity to purchase the Flanagan Building at the highly visible and trafficked, t-intersection in the heart of Phenix. This property is truly a Phenix that defies traditional "Cap Rate" calculations. The Seller seeks an entrepreneurial buyer with enough vision and acumen to realize its true value. This commercial mixed-use building consists of 5 currently leased residential units (three-2bed & two-1bed)(each unit has own water tank & Furnace), that sit atop 3 vacant, commercial units (Zoned for 5 Commercial - see additional Tax Card #2), awaiting your vendors unique specifications to launch their businesses. The 1st Commercial Unit was a Bar for 30 years, and has been completely gutted, but for the HVAC Return and duct work. It is plumbed for 2 Restrooms and a kitchenette space, and ready to be rebuilt to your specs. The 2nd, middle unit has a fully equipped kitchen (former Take-out), perfect for a stand alone, take-out restaurant, or retrofitted to augment the adjacent unit, that could to be built-out to spec as a pub/tavern. The 3rd unit is move-in ready, awaiting your new tenant's specs . Both parking lots exceed commercial and residential needs. Agents and Buyers are to exercise their own due diligence as to the permits and zoning of the building's past and present layout, configuration, and usage. General Selling Terms: AS-IS & at ASKING PRICE (traditional Cap Rates do not apply). Seller May Consider Financing ONLY IF Offer Exceeds Asking Price.
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