Multi-Family Space For Lease @ 1-17 Short St

This property is currently 100% leased and historically has been fully leased since it was built in 2005 with very high quality tenant base. Just recently the owner leased a townhome for $3,300/month (Pro-Forma CAP rate 7.34%) which proves our market rents are accurate in the current market conditions, leaving a new owner tremendous upside with increasing rents in the vast majority of these townhome units. Fully approved condo docs in the event new owner chooses to condo the building and sell each unit individually, multiple exit strategies are available if you choose to do so.
Another option available to new owner is the summer rental seasons & short-term rentals (VRBO, AirBnB etc...) Historically these sites have the potential to generate a much higher gross revenue than the standard twelve (12) month leases. This assets premium beachfront location will allow it to capture the beach and summer rental markets for years to come which is a valuable option to have. This space offers accomodations for: lowrisegarden.