FOR SALE: $3,500,000 ($127.27 psf)
422 East Vermijo is the 4-story, iconic Nicoll Storage Building nestled on the east edge of the downtown on 45,389 square feet of FBZ T1 CU land, smack in-the-middle of the pathway-of-growth. The building is approximately 27,500 square feet. There’s 5,000 (fully-finished) square feet in the garden level and 4 upper floors; each floorplate being 5,000 square feet; plus, a newly-constructed 2,700 square foot addition to the 1st floor. There is a 4,000 square-foot roof-top garden/patio.
The building operates (mostly) mixed-use, where the majority of the building is an executive suite with many one-room-office tenants, while the ground floor and garden level is a branch-office for a multi-national corporation. The gross rent is $430,000. Taxes: $38,000. Insurance: $8,700. Utilities: $27,000. Maintenance & repairs: $49,000. The adjusted gross rent is: $307,456 ($25,621 per month).
For a private showing and all the confidential financial details, call Holly Trinidad (719-337-0999) or Tim Leigh (719-337-9551).