123 E Broadway St

Description

This Property has a unique blend of Commercial Office Space and Residential Apartments that provide a good cash flow to help with the overhead for an owner/occupier for the commercial space that can be opened up to approx. 8,000 sf of commercial space or leave it as 2 spaces or up to 6 smaller offices as configured now. The Residential piece is comprised of 6 one bedroom, one bath, 600+ sf with appliances included apartment. An exceptional three-bedroom, one bath, with over 2,300 sf of space and a 1,000+ sf Living Room. All of the apartments have been remodeled in the last 4 years to just finishing one of them. There are two entrances to the front of the building to Broadway or the rear of the building with more parking. The City of Newton has a public parking lot that is well lighted at night and maintained by the city that is utilized by the commercial customers and employees and Residential Tenants as well. Current Rent Roll on the apartments is for just 6 apartments with one being remodeled is $3,195.00. Rent for the remodeled apartment will be at $500 - 550.00 a month. The Commercial part has two businesses in them. One of the businesses is building a new building and is projected to be their new building mid next year. The other Tenant is leased until 2024. The other offices are vacant, and walls can be removed or build to suit for any new Tenants. There is storage in the rear at approx. 2,000 sf. Current Rent Roll is $2,648 a month, with a potential of $4,000.00+ of income. Utilities are paid by the tenant by sf leased.