5053 Churchward Street

Description

First time offered in 50 years. Two story high visibility building that is fully rented with solid long term tenants including neighborhood market downstairs along with upstairs independent living facility. Wide range of exciting development opportunities due to very friendly multi-use zoning of CN-1-3 which allows for a myriad of commercial/residential ventures including up to FIVE residential units above/behind existing retail store. Located in the Transit Priority Area, Sustainable Development Area, Business Improvement District and Complete Communities Housing Solutions Area which increases the potential FAR from 1 to 6.5! Parcel being 60ft wide and nearly 9,000 sf. in total allows for complete build out. Also located in Opportunity Zone which may have favorable tax consequences. Tenants pay all utility bills and 65% of property tax. Sweeping southwesterly views from upstairs decking and balcony. Total gross monthly income $7,200. First time offered in 50 years. Two story high visibility building that is fully rented with solid long term tenants including neighborhood market downstairs and upstairs independent living facility. Wide range of exciting development opportunities due to friendly multi-use zoning of CN-1-3 allows for a myriad of commercial/residential ventures including up to FIVE residential units above/behind existing storefront. Located in Transit Priority Area, Sustainable Development Area, Business Improvement District and Complete Communities Housing Solutions zones increasing the FAR from 1.0 to 6.5! Also located in Opportunity Zone which may have favorable tax consequences. Tenants pay all utility bills and 65% of property tax. Parcel being 60ft wide and nearly 9,000sf allows for complete build out. Sweeping southwesterly views from upstairs decking and balcony. Total monthly gross income is $7,200.

Listing information courtesy of: Jim Jollett, James Jollett Realty 619-405-5971. *Based on information from the Association of REALTORS/Multiple Listing as of 01/19/2025 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.