Renovated Commercial Space With a Loft Apartment
Check out this turn-key commercial investment space with a loft apartment! This two-story, 2,4000 square foot building has commercial space on the main floor with a very nice 2 bedroom, 2 bath loft on the second floor. It offers a great cash flow to an investor, and could be a perfect option for a business owner with the option to have primary residence in the same building. Located in downtown Orrick, Missouri, this newly renovated space is in excellent condition and offers a great investment property with two long term tenants. The building has frontage on Front Street, which is the main drag in downtown Orrick. The existing owner did not spare any expense when renovating the building and has since meticulously maintained the property and has had nearly no repairs or expenses since renovation.
The building is currently occupied by Kilgore's Modern Country antique shop on the main floor....
The building is currently occupied by Kilgore's Modern Country antique shop on the main floor. Kilgore's has been a long term tenant and hosts boutique sales and events. The upstairs is currently leased by a couple living in the building who signed a new one year lease beginning in August 2020. The 2 bedroom, 2 bathroom loft has upgraded appliances, countertops, cabinets, a laundry room, and features, such as exposed brick and ductwork to give it a sense of attraction seen in city loft apartments. Each tenant has their own utility meters. The HVAC systems are new and more than adequate for the space. There are two new 100 gallon hot water tanks, a new Trane AC unit and a two 500 gallon propane tank that are owned by the seller. The building provides a large parking area off of Creason Street and there are street parking spaces on Front Street.
The seller owns a neighboring property located at 100 S Creason and would consider a package deal. This is a great price for a turn-key commercial investment property. Please contact Will Wiest for additional info and to schedule a showing!
Property Features
-Turn-key commercial space with a loft apartment
-2,400 sq. ft. (1,200 sq. ft. each floor)
-Located in downtown Orrick, MO
-For sale at $79 per sq. ft.
-25 minutes from Kansas City
-Kilgore's is on a month-to-month lease at $450/month
-Loft apartment lease is $750/month and expires July 31, 2021
-Total income is $1,200/month ($14,400 per year)
-Recently renovated and in excellent condition
-Two new Trane HVAC systems
-Two new 100 gallon water tank
-New concrete sidewalk and entrance
-Large glass windows with black molding
-2 bedroom, 2 bath loft with new finishings and full laundry room
-Two 500 gallon propane tanks owned by the seller
-15 miles east of Highway 291
-25 miles east of I-435/Highway 210 interchange
-2019 paid property taxes: $896.10
Directions
From 291/210: Head east on Highway 210 for 15 miles to Orrick. Then drive south on Highway Z into downtown Orrick. Highway Z turns into Front St. The property is on south side of the road.
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