Mixed-Use Investment Opportunity - Fully Occupied Pizzeria Building with Significant Upside
Excellent opportunity to acquire a well-maintained mixed-use building featuring one established retail space and two large residential apartments in a strong rental market. The ground-floor retail unit is occupied by a successful pizzeria generating $3,600 per month with 3% annual rent increases, while contributing 70% of the building's water expense, providing stable and growing income. The residential portion consists of two spacious 3-bedroom, 1-bath apartments. One unit has been recently renovated and is currently vacant, offering immediate leasing potential with projected rent of $2,500+ per month. The second apartment is currently rented at $1,584 per month with an estimated market rent of approximately $2,700 per month, creating substantial value-add potential for investors.
The property has seen numerous improvements, including upgraded electrical service, a renovated bathroom, and updated residential finishes. The building is connected to a central fire and safety monitoring system and features three separate utility meters. Heat is currently paid by the landlord.
With strong in-place income, an established commercial tenant, and significant rental upside in the residential units, this property offers investors the opportunity to increase cash flow and maximize returns over time.
Property Highlights
Mixed-use building with 1 commercial unit and 2 residential units
Established pizzeria tenant paying $3,600/month
3% annual commercial rent escalations
Commercial tenant pays 70% of water expense
Two spacious 3-bedroom, 1-bath apartments
One renovated vacant unit ready for lease
Significant rental upside in residential units
Upgraded electrical service
Renovated bathroom and updated residential finishes
Central fire and safety monitoring system
Three separate utility meters
Strong value-add investment opportunity
Actual income is $91,000 per year with value add to $103,000+
A rare chance to own a cash-flowing mixed-use asset with a stable commercial tenant, renovated residential units, and substantial upside potential for increased income and long-term appreciation.
