Base Rent: $20.00 per square foot annually Triple Net Expenses (NNN): $4.00 per square foot annually This prime retail or office space is located in a high-traffic plaza undergoing an exciting exterior modernization, including a new facade upgrade and fresh paint. Situated just 4 minutes from the heart of downtown, the property offers excellent visibility and access in a rapidly developing area. It's surrounded by several new residential projects, making it an ideal location for businesses looking to capitalize on increased foot traffic. Key Highlights: Location: Just 4 minutes from downtown, offering easy access to key city areas. Proximity to New Development's: - 2 minutes from a proposed 320-unit apartment building at the former Cadillac dealership site on Main Street. - 1 minute from a proposed 102-unit apartment building called "The Woodley". - 2 minutes from the newly completed Benton Crossing Apartments with 56 units. High Visibility: 6-lane traffic on the Elmwood side and 5-lane traffic on Main Street, providing maximum exposure. Unit Features: New flooring, energy-efficient LED light fixtures, updated bathroom fixtures, freshly painted walls, and a brand-new HVAC system. Lease Terms & Requirements: Lease Term: Minimum of 2 years. Base Rent Increase: $1.00 per sq. ft. every 2 years (e.g., after 2 years, base rent increases from $20.00 to $21.00 per sq. ft.). Income Requirement: Tenant must provide proof of income equal to three times the monthly rent. Security Deposit: Required upon lease signing, along with the first month's rent upon move-in. Required Documentation: Proof of Income: 3 most recent pay stubs or 3 months of current bank statements. Proof of Identification: Valid driver's license or state ID. Application Fees: $80 application fee (non-refundable) and $32 background & credit check fee (non-refundable). Lease Structure: Triple Net Lease (NNN) Under the Triple Net Lease structure, the tenant is responsible for: Base rent Utilities: Garbage, Electricity, Water, and Sewer Triple Net Expenses (NNN): Property Insurance, Common Area Maintenance (CAM) and Property Tax This is an ideal location for businesses seeking high visibility and a growing customer base in a rapidly evolving area. With modernized facilities and an exciting development landscape nearby, this space provides an excellent foundation for your business to thrive. Contact us today to schedule a tour and discuss how this property can meet your business needs.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
