This CR Zoned (Rural Commercial) property sits on CA Highway 18 and was a profitable Napa Auto parts store for 26 years. The property includes two additional usable or rentable buildings, a clean and neat home for the owners to live or to rent and a large storage garage, used by the Napa Auto Parts store to inventory parts. All buildings show pride of ownership and are in a well maintained condition. The NAPA store owner used the building for the entire time of ownership as the auto parts store and remodeled the home for a personal residence when they were at the store. At the time of putting this property on the market the main store and the storage building are vacant. Home is currently occupied. The store front is approximately 2,330 sq ft with two central heating units, two evaporative coolers and has it's own septic tank. The owner had NEW rolled roofing installed on the store 3 months ago. The building can be used for any number of commercial uses under this Rural Commercial zoning. According to the County of San Bernardino 2007 Development Code, "The CR (Rural Commercial) land use zoning district provides sites for retail trade and personal services, repair services, lodging services, recreation and entertainment services, transportation services, and similar and compatible uses." According to the seller the 1,156 sq foot home was built in 1926 and has been remodeled several times over the years. The two bedroom, one bath home has a wall heating unit, evaporative cooler and septic tank. The shingle roof was replaced approximately 9 years ago with a guaranteed 25 year roof. The detached storage/garage is approximately 1,104 sq feet and includes a shop in the back. Giving new tenants a great deal, ($.064 per square foot) for the 2,330 square feet of store space the main building is rentable for $1,500 per month, add the 2 bedroom remodeled home at $750 per month, the storage facility at $200 per month. We believe a new buyer can obtain long term tenants for the separate buildings for a gross yearly income of $29,400. FINANCING This seller is offering several options to lease, lease option or purchase this property. The main store building is available for lease at $1,500 per month along with the storage building being available for $200 per month. A lease with option to purchase is also being offered by this seller. The seller will consider all offers for a lease option and the potential buyer should consider making a lease deposit along with monthly option funds over and above the monthly rent to be credited for a future purchase of the property. The term of a lease option to purchase is negotiable. Lastly, the seller is offering seller financing with no credit check, points, or continuing yearly full financial statements as banks now require. Seller is offering a simple loan process to purchase this property with your down payment being the qualifier for your purchase. The seller offers complete financing with 25% down and monthly payments to fully amortize this purchase for 20 years at 8% interest. If you have checked with a commercial lender this process is substantially less intrusive, about the same interest, (and this one is not variable interest), is fully amortized at a stable unchanging payment and will not have a 5 or 10 year balloon payment or requirement to refinance at the end of the term as many current lenders require.
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