Commercial Sale Details
Gateway Business Park is a relatively new commercial property with high income and low maintenance expenses that provides for a very nice net income. It is presently 100% leased to a core of excellent tenants, which includes several national companies, local and state governments, a fitness gym, a brewery/restaurant and a number of smaller successful businesses. The business park is the newest and most desirable commercial facilities in the area, and thus has a waiting list for both the commercial spaces and the storage units. It is located in Lakeport, CA (the county seat), close to the freeway entrance, and has easy access and sufficient space in the parking lot for large trucks to maneuver. The park is comprised of five buildings with 34 possible commercial units and 18 storage units (all 12 X 30). Some of the tenants take several units so presently full occupancy is only 18 tenants plus the storage rentals. A number of the storage units are used by the growing commercial tenants who need extra space and the rest are rented to the general public. CAM charges cover most of the costs for maintenance, lighting and liability insurance. The park has sufficient parking and the premises are well maintained. The seller is motivated and the price has been reduced by $1,200,000.00, so the property is now being offer at a cap rate of 8% with the current income and expenses. A must see property.
|Lot Price Per SqFt||$38.97|
|Price Per SqFt||$113.72|
|Area||LCLPS - Lakeport South|
|Number Of Units||18|
|Number Of Buildings||5|
|Listing Brokerage||Schall Realty|
|Listing Agent||Robert Schall|
|Listing Agent BRE #||01008768|
Based on information from California Regional Multiple Listing Service, Inc. as of Sunday, October 8, 2017.
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