19226 Cherry Creek Road

Description

FOR SALE Hwy 49 Frontage Exposure. Close to 31,000 cars drive by every day. The property is commercially zoned and includes two separate units on one acre. It used to house a profitable restaurant, convenience store, and retail location, but it can potentially be used for various other purposes such as a convenience store, restaurant, car lot, grow store/dispensary, fruit stand, mechanic shop, bar, etc. It's important to note that any new use would need to be approved by the County The property can be bought individually or as part of a package deal along with other listings in the portfolio. The sellers are willing to offer a discount for the purchase of the entire portfolio. With a net operating income of $412,668, the cap rate for this property is impressive. The properties have been well-maintained and were completely remodeled with high-quality materials, minimizing the need for maintenance. Furthermore, the leases come with double to triple deposits, providing an added advantage. The rental history is excellent with very few vacancies. There is also an opportunity to increase the value of the portfolio through the addition of ADUs. The MLS listing #s in portfolio included 223022091,223021719,223021624,223020926,223020949,223020889,223020935,223020910