$3.3M for a quick close like 45 day due dilligence and 30 day close of escrow. We have 2 x $3.7m offers from housing developers that need 24 months, which we rejected. Previously entitled for 7,800 sf, 2 story office building. Housing developers think that 90 units of affordable housing is possible. Seller can also build to suit or build office building and lease it to tenant at $4.00/sf NNN to $5.00/sf NNN. 1 floor lease possible. Highway signage possible, 250,000 cars per day. MM-40 Light Industrial Zoning. Sares Regis successfully developed 5.5 acres from same zoning to townhouses, 2 blocks away. 1,400 sf house on property now. 2 vehicle-related tenants now on month to month.
Courtesy of Symphonic Real Estate Services, Alexander Kent.
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