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25916 Avenue 17 Madera, CA 93638
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Key Details
Sold Price $550,000
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
Square Footage 4,000 sqft
Price per Sqft $137
MLS Listing ID 604958
Sold Date 02/01/24
Bedrooms 12
Year Built 1991
Lot Size 0.316 Acres
Property Description
This 4,000 square foot boutique retail center has (4) suites: each with a reception area, 3 offices, 1 Kitchen, 1 Bathroom and slider leading to a private patio. Each suite is individually metered for electric. Water comes from the utility connection with 1 main meter, and the property's sewer is self sufficient with septic tank on site. The financials are attached. Rents are A-$1,000, C-$1,100, D-$1,100 with the fourth unit currently vacant. Unit A raises to $1,200 on 4/1/24 and Unit C & D raise to $1,200 each on 2/1/24. The vacant Unit B used to rent for $1,500. There is a value add play with the vacant unit and also future restructuring of leases for a $48,000+ (net) return annually. Pro forma numbers exemplified on the attached financials. Also there are owner/user options and flexibility at this center. This building has been very low maintenance for the current owner and easy to self manage. The owner is selling the entire portfolio and retiring. The location is great with Avenue 17 frontage and the traffic that passes along that route daily. The tenants are wonderful and we request that you do not disturb them. Instead, please view the interior and exterior photos displaying all 4 suites, and submit your offer subject to inspection.
Location
State CA
County Madera
Area 638
Zoning CRM w/ MHA Overlay
Interior
Heating Central Heat/Cool
Cooling Central Heat/Cool
Exterior
Exterior Feature Metal, Brick/Block, Other
Garage 10 - 20 Spaces
Fence Partial
Roof Type Flat
Building
Story One
Sewer City Water, Septic, Individual Gas
Water City Water, Septic, Individual Gas
Others
Acceptable Financing Conventional, Cash
Listing Terms Conventional, Cash
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