Description
FOR SALE- Awesome downtown Geneva commercial building available for either an investor or owner-user. This 1950 vintage 3,390 sf single story brick and stone building contains has 3 tenant spaces, all of which are occupied. Two of the spaces face State Street while the 3rd is toward the back-parking area. The two street-side suites are leased to retail stores, each being 1,320 sf and the rear 720 sf suite is leased to a chiropractor. The tenants are fine quality and long-term. For investor buyers, the leases are short-term expiring early 2021, so adjustments could be made improving the cash flow & NOI. For owner-occupant buyers, the leases are short term. The former backyard space was combined with the 2 adjacent properties' backyards to create a shared parking area with access easements to both 5th and 6th streets. It was created when the building to the west was built around 2005. The owner of the building to the west manages the parking area and the cost of maintenance is apportioned based on area. The intent of the partnership is to provide employee vs. public parking. Maintenance includes landscaping, snow removal, repairs and refuse service. The property is also in the Geneva downtown SSA1 which is paid as part of the real estate taxes... See add'l info for tax bill and building blue prints.
-
0BEDS
-
0.15ACRES
-
0BATHS
-
01/2 BATHS
-
3,390SQFT
-
$146$/SQFT
School Ratings & Info
Description
FOR SALE- Awesome downtown Geneva commercial building available for either an investor or owner-user. This 1950 vintage 3,390 sf single story brick and stone building contains has 3 tenant spaces, all of which are occupied. Two of the spaces face State Street while the 3rd is toward the back-parking area. The two street-side suites are leased to retail stores, each being 1,320 sf and the rear 720 sf suite is leased to a chiropractor. The tenants are fine quality and long-term. For investor buyers, the leases are short-term expiring early 2021, so adjustments could be made improving the cash flow & NOI. For owner-occupant buyers, the leases are short term. The former backyard space was combined with the 2 adjacent properties' backyards to create a shared parking area with access easements to both 5th and 6th streets. It was created when the building to the west was built around 2005. The owner of the building to the west manages the parking area and the cost of maintenance is apportioned based on area. The intent of the partnership is to provide employee vs. public parking. Maintenance includes landscaping, snow removal, repairs and refuse service. The property is also in the Geneva downtown SSA1 which is paid as part of the real estate taxes... See add'l info for tax bill and building blue prints.
© 2021 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or BNRealty | RE/MAX Rising.
Based on information submitted to the MRED as of 2021-01-27T19:52:46.26 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the
office/agent presenting the information.
Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.
Digital Millennium Copyright Act