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Key Details
Sold Price $537,815
Property Type Commercial
Sub Type Office
Listing Status Sold
Purchase Type For Sale
Square Footage 4,500 sqft
Price per Sqft $119
MLS Listing ID MC21129051
Sold Date 07/30/21
HOA Y/N No
Lot Size 0.340 Acres
Acres 0.34
Property Description
Investment Opportunity at 5.66% Cap Rate with below market rents and huge upside in rental income. The Net Operating Income is $29,970 and the rent average is $1.00 per square foot. You can purchase the subject property well below the cost to construct and hedge against potential inflation.
Excellent visibility on G Street in Merced’s Downtown District. Located blocks from the Merced Theatre, Main Place Merced, El Capitan Hotel, Hotel Tioga, Mainzer, and UC Merced Downtown Center projects.
Within walking distance to future Merced Station Site for access to ACE Train & High-Speed Rail. The units have below-market rents which present a huge upside in income. Located in an Opportunity Zone, this property presents the opportunity for an investor to potentially defer, reduce, or pay zero on capital gains tax. Zoning is (C-O) Office Commercial.
Location
State CA
County Merced
Rooms
Ensuite Laundry None
Interior
Laundry Location None
Fireplace No
Laundry None
Exterior
Roof Type Wood
Building
Lot Description 0-1 Unit/Acre
Water Public
Others
Tax ID 031163015000
Financing Cash
Special Listing Condition Trust
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Bought with Salim Farha • SVN Executive Commercial Advisors
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Tracy Thrower Conyers
Broker Associate, JD | License ID: 01712960
Broker Associate, JD License ID: 01712960