2331 N State HWY 46

Public Remarks:

DEVELOPMENT OPPORTUNITY WITHIN NORTH POINT BUSINESS PARK. 7.3 ACRES ALONG THE HIGHWAY 46 CORRIDOR. LOCATED APPROXIMATELY .53 MILES NORTH OF IH 10 AND HAS 782 FEET OF HIGHWAY 46 FRONTAGE. THIS PROPERTY IS ZONED LIGHT INDUSTRIAL AND HAS AN EXISTING INCOME PRODUCING MULTI-TENANT BUILDING IN PLACE. THIS IS A FAST GROWING AREA WITH MANY NEW HOMES AND COMMERCIAL PROJECTS DEVELOPING IN THE SURROUNDING AREA.

Agent Only Remarks:

CURRENTLY ALL 6 UNITS ARE RENTED TO 2 TENANTS. RENTAL RATES ARE BELOW MARKET AT $3000 AND $2400 PER MONTH. ONE TENANT IS GETTING A DISCOUNT FOR MOWING THE ENTIRE 7.3 ACRE TRACT. THERE IS AN ADDITIONAL $550 PER MONTH FOR BUILDER SIGNS. ALL LEASES ARE ON A MONTH TO MONTH. A $1 PER FOOT ON THE RENTAL WOULD PUT THE PROJECTED INCOME AT APPROXIMATELY $90,000 ANNUALLY.