4232 N 7th Avenue ,
Rare opportunity to own a building located on the ''curve'' right in the very heart of the vibrant, trendy and hip Melrose District with an eclectic mix of retail, food & drink and personal services surrounding it. Property has been in the family since the 1950s. Great owner/user or investor re-positioning opportunity. Buyer can either vacate one or both tenants for personal renovation and use, or push rents to significantly increase cash flow as current tenants are well below market rate of $13-$14/SF NNN. This single level, block constructed retail space is currently used by a Beauty Salon and an Herbal Medicine shop. Tenants have occupied the building since 1996 and 2006 respectively. C-2 zoning also allows for office use. High Visibility to 7th Ave with +/-35,078 VPD * High Visibility to 7th Ave with ±35,078 Vehicles Per Day * In the heart of the trendy Melrose District * Very walkable and bikeable according to WalkScore.com * Grid bike share hub and bus stop ~100 ft away * 204 luxury apartments built AUG 2018 across the street * Recently completed & current redevelopment activity in immediate area * Opportunity to collect NNN from tenants * Rents are well below market rate of $13-$14 NNN
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- MLS® #5954053
- Square Footage1,760
- Year Built1949
- TypeCommercial Sale
- Garage Spaces5
- ParkingPrivate Parking, Paved Parking
- Listing OfficeKasten Long Commercial Group
- Address4232 N 7th Avenue
- SubdivisionWOODLEA BLK 3-6, 11, 12
- Interior FeaturesFinished, Private Restrooms
- HeatingOther (See Remarks)
- CoolingCentral A/C
- Stories1 Story
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Listing information last updated on August 23rd, 2019 at 4:32am AKDT.