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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.
- Directions
- 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.
- City
- St Joseph
- County
- Buchanan
- Property Type
- Commercial Sale / Other
- Listing Updated
- Apr 17, 2024 at 9:04am
- MLS Number
- 2482445
- Property Tax
- $16,268
- Zoning
- $COM
- Disclaimer
- The information displayed on this page is confidential, proprietary, and copyrighted information of Heartland Multiple Listing Service, Inc. (“Heartland MLS”). Copyright 2024, Heartland Multiple Listing Service, Inc. Heartland MLS, Elite Realty and Agent Jo do not make any warranty or representation concerning the timeliness or accuracy of the information displayed herein. In consideration for the receipt of the information on this page, the recipient agrees to use the information solely for the private non-commercial purpose of identifying a property in which the recipient has a good faith interest in acquiring.
- The data relating to real estate displayed on this website comes in part from the Heartland Multiple Listing Service database compilation. The properties displayed on this website may not be all of the properties in the Heartland MLS database compilation, or all of the properties listed with other brokers participating in the Heartland MLS IDX program. Detailed information about the properties displayed on this website includes the name of the listing company.
- Information is deemed reliable but is not guaranteed.
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