Description
Spectacularly located right on Route 4 in the heart of Dunkirk, this impressive nine-unit commercial property offers 8,906 total square feet of opportunity. The two-story building features 6,405 finished square feet above grade and 2,501 square feet of leasable improved basement space.This property is perfect for owner occupants and investors alike. The building consists of two separate buildings that are connected with an elegant glass canopy with an open air entrance. The design adds an element of elegance and natural ambience to the entrances of the units. The front building is (Unit 100) 1360 Sqft and was recently renovated. The space was previously used as an office space for a real estate and property management firm. The back building is 3 stories with a total of 8 units. Each floor is around 2500 sqft. The top floor is a second story walk-up 3 800sqft units. Units can be leased individually or they can be contiguous. The main floor also consists of 3 800sqft units that can be leased individually or can be made to be contiguous. The basement consists of 2 1200 sqft units that can also be contiguous if need be. Currently, there are 2 active tenants. 1200sqft on the upper level (Units 201/202B) and one 800sqft unit on the main floor (Unit 103). Up until recently, the owner had businesses which occupied units 100,101, and 102. The basement units were also leased, but the tenant is in the process of moving out. The entire building with the exception of 1 upper level 800sqft unit was occupied until March of this year! Existing leases are in place at $23/sqft! Using this dollar amount across the entirety of the above grade sqft, and then discounting the basement sqft @ 50%, backing out a taxes and expenses results in a cap rate of 13% fully occupied! This is a tremendous opportunity for an investor!If you are looking to owner occupy some or all of the property. There is 6906sqft immediately available, although it would not all be contiguous or on the same floor. Unit 100 offers 1360 sqft of move-in ready space and units 101/102 are currently set up as a contiguous space offering 1600sqft immediately available. Call for more information if you have questions. This building is already generating a lot of interest, so make sure you inquire soon so you do not miss out on this opportunity!
Description
Spectacularly located right on Route 4 in the heart of Dunkirk, this impressive nine-unit commercial property offers 8,906 total square feet of opportunity. The two-story building features 6,405 finished square feet above grade and 2,501 square feet of leasable improved basement space.This property is perfect for owner occupants and investors alike. The building consists of two separate buildings that are connected with an elegant glass canopy with an open air entrance. The design adds an element of elegance and natural ambience to the entrances of the units. The front building is (Unit 100) 1360 Sqft and was recently renovated. The space was previously used as an office space for a real estate and property management firm. The back building is 3 stories with a total of 8 units. Each floor is around 2500 sqft. The top floor is a second story walk-up 3 800sqft units. Units can be leased individually or they can be contiguous. The main floor also consists of 3 800sqft units that can be leased individually or can be made to be contiguous. The basement consists of 2 1200 sqft units that can also be contiguous if need be. Currently, there are 2 active tenants. 1200sqft on the upper level (Units 201/202B) and one 800sqft unit on the main floor (Unit 103). Up until recently, the owner had businesses which occupied units 100,101, and 102. The basement units were also leased, but the tenant is in the process of moving out. The entire building with the exception of 1 upper level 800sqft unit was occupied until March of this year! Existing leases are in place at $23/sqft! Using this dollar amount across the entirety of the above grade sqft, and then discounting the basement sqft @ 50%, backing out a taxes and expenses results in a cap rate of 13% fully occupied! This is a tremendous opportunity for an investor!If you are looking to owner occupy some or all of the property. There is 6906sqft immediately available, although it would not all be contiguous or on the same floor. Unit 100 offers 1360 sqft of move-in ready space and units 101/102 are currently set up as a contiguous space offering 1600sqft immediately available. Call for more information if you have questions. This building is already generating a lot of interest, so make sure you inquire soon so you do not miss out on this opportunity!
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