Highway Frontage Commercial Complex With 2 Homes

Business Overview:

5900 sq ft building with an event center, seven offices, two 1/1 apartments, and two additional detached homes on 1.2 acre with an est. 250 ft of commercial highway frontage with access to two major highways. The party room established as an event center in 1999 is a 2700 sq. ft. space with a 500 sq. ft. kitchen, 4 refrigerators, 2 microwaves, 1 stove, 3 compartment sinks and stainless-steel counter tops. Party room comes with 20-50" round tables and 6-6' rectangle tables, 200 chairs and hold up to capacity of 176 people and a parking lot for 87 vehicles. Rental time is normally from 10am-6am the next morning. 20 hours. Rates vary depend on day of use. Building was built in 1986 with the roof updated in 2017. HVAC is a total of (2) 4-ton units for the main building and apartments and (2) 4 tons for the 2700 sq. ft for the event center. Apartments are equipped with washer/ dryer, dishwashers and ovens. Main building is zoned for light retail and is made out of blend of wood trustees, steel R paneling and brick on front and ends. The two homes that are detached of the building sit on the south side of the property. One home is 650sq.ft and is rented for $575.00 per month. The other home is 830 sq. ft and has been recently remodeled with 50k and is rented out for $925.00 per month. All units have been rented and has an 92% occupancy rate. Per owner the office(s) rate needs to increase. 

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Market Competition and Expansion:

This commercial property presents a compelling opportunity for higher ROI, supported by its ability to be reconfigured into additional office suites. Positioned at the crossroads of two high‑traffic highways, the building benefits from outstanding visibility and consistent exposure. Its prime location and versatile usage potential make it a standout investment.

The event center is undervalued based on current performance, but under monetized due to lack of advertising, discounted office rents, and unused potential. Its real value likely lies in future income potential or conversion, not its current revenue.
Event center can be changed or converted to any other commercial space, per city. The event center is an underperforming asset with low revenue, no marketing, discounted office rentals, and strong conversion potential. Its value lies far more in what it could be than what it currently earns.

Reason for Selling:

Retire. Kindly ask the seller for more information.

Additional Details:

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