7815 Blind Pass Rd

Investment Highlights

Lots of foot traffic in area Great parking

Executive Summary

3 lots 140ft x 76 feet of usable space. The EL Gordo building has been a laundromat since 2000, previously a Mexican restaurant for 30 years..A complete takeover of the building will cost 1.1m and you get the lower part immediately and the top in 15 months. The laundry has a 5 year with 5 yr option left, they are wishing to sell out., included in the price. Top lounge/bar is used as a non profit meeting room, way below market rent $1648 mo lease expires August 2025. The area is surrounded by restaurants and bars. A steak & wine bar, seafood or Mexican, Liquor store/bar, even a specialty food retail would do well here. Or keep the laundry as a tenant $2680 a year,and turn the upstairs into a restaurant and bar in a year or leave the tenant at $2050 a month. $930,000 for land/building only with $52,000 rental income 2024, $57,500 2025. 4% CAP rate on the beach! 30% down Owner financing to qualified buyer, no wind or flood will be required provided you have sufficient reserves in case of a loss. This is a redevelopment that has paying tenants until you have your permits in hand. ** Please be discreet when viewing property** Call or TEXT Peter after 1 Pm for more info. 725-777-6550 Brokers register your client for a 3% commission

• Sale Type    Investment or Owner User
• Sale Conditions    1031 Exchange 1031 Exchange Redevelopment Project 1031 Exchange
• Property Type    Retail
• Property Subtype    Freestanding Freestanding General Retail Bar General Retail Restaurant Freestanding
• Building Size    3,864
• Building Class    C
• Year Built/Renovated    1954/2000
• Price    1,100,000
• Price Per SF    285
• Cap Rate    4
• NOI    44,000
• Percent Leased    100
• Tenancy    Multiple
• Building Height    2 Stories
• Building FAR    0.99
• Land Acres    0.09 AC

• Bus Line
• Corner Lot