15k SF multi-tenant industrial building.

Under market rents, gross leases, month to month leases, 0.25 acre of land not used.

Incoming NOI: $63,096.

$1.2M purchase on 9/1/2020 (5.25 CAP). 

Plan: re-sign 3-year leases, increase rents to market rent, convert to NNN, monetize bare land.

Stabilized NOI - 2/2021- $128,074.

Value: $2.44M - 10/2022.