Property Description

Your opportunity to own a diversified investment property. McKay Cottage Plaza consists of the real estate housing McKay Cottage Restaurant, two adjacent office buildings, and the adjacent vacant lot. Priced far below assessed value. Real Estate only is for sale. 6.75 CAP on APOD using current rents for income, historical numbers for expenses, plus projected increases in taxes and insurance. Financials and rent roll available upon completion of NDA. This property has been immaculately maintained, with new sealing and striping, recent upgrades to HVAC, long term lease with Restaurant and primarily two year leases with other tenants. Restaurant pays all its own utilities and a sub-water meter is in place. Sorry no showings until acceptable offer in hand.