Facts Sheet:

 

  1. There have been extensive Capital Improvements all throughout the property in way of updated plumbing, updated electrical, and New AC in some parts of the building. There has been nothing done in the last 12 months but over the 30 years the owner has had the place there have been many improvements and upgrades.

  2. There was a new Barrell Tile Roof put on about 5 Years ago (ill have to confirm the exact date) and this has a warranty.

  3. The Café space was completely renovated 100%: New plumbing, electrical panel and wiring, brand new AC, and installation of a grease trap, new flooring, new water heater.

 

Extensive monies were paid towards Electrical Engineering plans, and Architectural plans.

 

There was a new trash room / chute built on to the rear of the building as required by code for the Café.

 

  1. Units 3,4, & 5 have all had renovations continually with new kitchenette area with granite counters, brand new bathroom (in the cottage) with shower and toilet (all new plumbing, electrical, sink, toilet, really high-end faucets and hardware). The 2nd bathroom in the cottage is also new with all new fixtures, toilet, sink etc.

  2. A new aluminum awning structure was built in the rear of the property.

  3. Zoned Full Retail from the front wall to the back wall/gate. This is rare for this area. The property is grandfathered in for the Retail Use.

 

 

 

1239 ALTON ROAD RENT ROLLS:

 

As of JULY 2020

 

 

  1. Alton Road Nurseries: $8,850 Triple Net per month: 10 Year lease with option to renew. Lease is up in 2021. Option to renew would be at $9,500 triple net.

  2. Café: $3,050. Triple Net per month:  Year to year lease

  3. Storage Closet Income: $100 per month.

  4. Hair Salon & Spa: $1,917 per month (Gross): 1 Year Lease expires 3-31-21

  5. DK International $1,450 per month (Gross):  Lease 1 year expires February 29th 2021.

  6. Psychdynammics $2,461 per month (Gross):  1 Year Lease expires 4-30-2021

  7. Parking income: $100 per month. Month to month.

  8. Event revenue for Café and Courtyard rental: Average $1,000 per month per event

 

$ 18,928 Per Month…………..

 

$ 219,552 Annually……………

 

 

No expenses as the triple net leases for Alton Road, Hair Salon, and the Café pay all property taxes, insurances etc.

 

Please let us know if you need anything else or have any questions.

 

Thank you……

772-801-5729 | Team@PierceHarborRealty.com117 Orange Ave. Fort Pierce, FL 34950

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