Marcus & Millichap are pleased to present this highly desirable mixed-use property for sale. This property was built in 1958 as a single-family home alongside a bar. This property also contained an operating 22-unit motel which is now partially demolished. However, there are 8 newly-refurbished mixed-use buildings on the south of the property and a 1 bed/ 1 bath residential unit attached. The property is situated on 1.49 acres. 2 APNS (422-022-02-00-2), (422-022-04-00-8)
Owner financing is an option to purchase this property, allowing investors to focus on building their cash-flow assets to how they please. Rarely does an opportunity such as this come to the market, when it does, the opportunity is sold quickly.
This property was recently appraised at $1,273,000.00. Our Broker Opinion of Value is $1,095,000.00, derived as follows:
1.) Land Value - 64,904 sf x $6.00/ sf = $389,424.00
2.) Building Value - 9,201 sf x $77/ sf = $705,546.00
Concluding vaalue = $1,095,000.00
This property offers a wide range of endless opportunities with its General Commercial (GC) zoning at a very convenient location in Delano, CA. This property opens the doors for creative investors to build or re-build what sits on the property.