For Lease, For Sale,
3634 – 3642 Jeannine Drive is for sale or lease. Health issues have created this sale! In fact, except for the health issues, (because the property has been so easily operated for years), the property would not be for sale.
The property is an 8,100 square-foot, five unit, retail strip center on a 24,933 square-foot, C5cr zoned lot located near Austin Bluffs and Academy. The property was originally constructed in 1986 and has been well-maintained since. The seller paid $812,000 for the property in 2007. It is now for sale for $675,000.
There are five rental units. The west end-cap (Unit 3634) was formerly a beauty salon (with sinks, etc.) and is now vacant. It is 1,286 square feet for lease at $1,650 per month + utilities. The other four units have short-term leases at below market rates by design. The valued-added opportunity is created when a Buyer installs better management systems, increases the rents, and then, operates for profit or resale, or the Buyer should consider this free-standing, single-use building, for their own business operation.
The asking price is only $83.33 per square foot ($675,000). The annual property taxes and insurance costs are $2,877 and (around) $2,000 respectively. Even with one vacant unit, the current gross income is approximately $56,000. For a private showing and all the confidential financial details, call Tim Leigh or Holly Trinidad.