Commercial Cashflow Indy Motor Speedway FOR SALE BY OWNER = $77,500 Two income streams on one parcel lot! One of a kind deal. This property has a commercial building with 2 units rented by same tenant. Also has basement that can be converted to 1 bedroom rental or used as storage area. Property is very close, to Indy Motor Speedway, close enough that you can use extra lot space in back to park cars during the Indy500, Brickyard, RedBull Air Race, and MotoGP racing season! This property is ideal for a long-term buy and hold investor, who is looking to have multiple passive income steams come from one property. Appreciation expected to increase over next several years in the Speedway neighborhood. Realtors, if you have a cash buying client, looking for a great deal this would also be a great long-term buy and hold to gain instant equity! Commercial Current Use: Barber Shop and Printing shop Commercial Rental Comps: Commercial property currently leased = $950 ($425 each unit) Market Rent Rates Per Unit of $800! Previous landlord hasn't raised rent over the years! Repairs = $5k or less No major repairs needed! Has an updated Roof Optional: New furnace, water, heater, and AC window unit. All mechanicals are in good shape Tenant responsible for interior cosmetic maintenance and updates Investment Options: Buy and Hold for Your Own Portfolio with cash, then do cash out refi to produce a significant cash on cash return and have instant equity and pull a big chunk of your cash back out.
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