Located on the northside of St. Joseph in Ashland Square, just off of Business I-29 (North Belt Highway). Occupancy 86%. In the last 5 years a new parking lot, roof, and HVACS installed. Lighting upgraded to LED for low maintenance. Most suites have been updated. In the last 2 years, two major tenants occupying 5,920 sq ft have had major updates to units. ATM machine on property with high return. Overall property is currently at a 7% CAP rate, with room to improve up to 9% CAP with current month-to-month leases and 100% occupancy. Avg lease rate is $8.76 well below the average, current lease rate in St. Joseph. Room to increase CAP rate even more! Showings must be scheduled with the listing agent. Some leases are available for $9 per square foot and some are higher - please reach out for more detailed information.
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I-29 N., Take Exit 50 toward US-169 toward King City/St. Joseph, Turn left onto US-169 S/Rochester Road, Turn left onto I-29BL, Turn right onto Ashland Ave/Lovers Lane, Turn right, Turn right and destination will be on the right.
Gary & Colleen Wolfson Office: (818) 597-4513 Email
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