Artfully Restored Warehouse
Repurposed warehouse located just north of downtown. Built in 1925 the double and triple brick structure has striking architectural features including a bow truss roof system and restored steel casement warehouse windows. 5,000 square feet of the buildings former offices were converted into 12 separate creative spaces which are leased individually to established long term artist tenants and other creative office space users. The adjacent 5,000 square feet is occupied by a successful local CrossFit gym who has a long-term lease. Building upgrades in 2015 include: new insulated roof system, electrical improvements and HVAC. Clean Phase I & II reports available. Solid NOI, zero vacancy with waiting list, stable long-term tenants and initial plans for another building on the site.
Rent Roll, Financials, 2019 Appraisal, preliminary plans for an additional building on the site, Phase I & Phase II ESA, other misc. docs all available for interested qualified buyer, just ask.Downtown Tucson 100% occupied with long-term tenants 7.2% Cap Rate 12 creative spaces 1 cross fit gym Extra space for development Property Highlights: 10,000 SF warehouse 34,334 SF lot (0.79 acres) Tucson I-1 zoning Professional renovation Gated off-street parking lot MLS Report Development Concept
List Price $1,600,000