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For Investors - This listing is for the coin laundry building only, not the operating business or equipment. There is an active tenant paying $2440 Plus Expenses (Tax and Insurance). Current NOI (Annual) $29,713, 6 CAP, with 3% annual escalations. Net lease, tenant pays tax, insurance, etc and maintenance. Owner covers roof/walls. Roof put on in 2010. Tenant has 2.1 years remain on current option, 1 additional 5 year option. Laundries are hard to replicate due to the huge impact fees, therefore tenants stick around a long time. Zoning CRT-1 Corridor Residential Traditional https://www.stpete.org/planning_zoning/land_development.php. Please drive by, and be very discreet as this is an operating business with customers.
Listed by Maggie Olivera, XCELLENCE REALTY,INC

Property Details of 2465 5th Avenue N

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Based on information submitted to MFRMLS as of September 27, 2021 . All data is obtained from various sources and has not been, and will not be, verified by broker or MFRMLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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