RECENTLY REDUCED! MULTI -USE Property! Located in a high traffic area adjoining to famous Italian Lovera's Store in Krebs, near well known PETE'S Restaurant and in area of other commercial business! The home was built in 1985 and would make a great rental or Office too. The open, level land adjoins US Highway 31E through Krebs, also known as W. Washington Street in Krebs. Across from it is a popular Service Station and on the other side is Krebs Corner Service Station. The corner lot location makes it ideal for any future business or simply keep it as residential and build several Triplexes. There is room to build 5 Triplexes plus have the house for income too. Potential Gross Income wold be around $11,000. The demand for rental is high in our area. The home was rented for $750 a month and could be utilized as an office too! The Triplexes would be the highest and fastest monthly return. The land would be ideal for retail, multiple storage units (high demand for those in our area), with 88 unit potential and approx. 63,000 a year gross income. As we all know, storage buildings have a low overhead. Even with a loan in place it would pay off within a few years and after that it becomes pure cash-flow! There are endless possibilities what to use this commercial facility for. I confirmed with City of Krebs: it is Commercial/Residential, so if you like building multiple duplexes or triplexes; you can do so.
The property is less than 3 min. to US Highway 69 and has frontage along US Highway 31 E going through Krebs, also known as W.Washington Street through City of Krebs and road frontage on NW 6th Street too! Lake Eufaula is only 20 min. from here either going east or going north, so another idea would be building boat storage but tall enough to accommodate 5th wheels too.
From McAlester, take US Highway 31East into Krebs. See sign by Kum & Go Service Station leading to NW 6th Street. Is a corner lot!