102 N Medina Street is a 15,635 SF warehouse building that has many configurations and options for contiguous space. The building sits on .53 acres and was originally constructed in 1912 with major repairs and updates as recent as 2017. It’s configuration allows for individually metered units and is comprised of four unique buildings. It has a strong rental history and consistently attracts contractors, tradespeople, and various storage space users for affordable rental rates. The space is ideal for garage and storage users, especially those that may need more or less space throughout the length of their lease. It’s convenient location North of Liberty Street on the NE corner of North Medina Street allows for a great potential redevelopment opportunity. With updates throughout the building, rental rates could be increased for additional cash flow. This is an affordable, starter investment that needs a little love and will provide good net operating income.
This is a great investment opportunity that has a good rental history and current cash flow. There are five tenants and only one 1,750 SF vacant space in the building. Actual Gross Income: $43,200, Estimated Operating Expenses: 8,164, Net Operating Income: $35,036 and Cap Rate: 17.6%
Property Location: 102 N. Medina Street is located north of Liberty Street on the northeast corner of N. Medina Street and Bolivar Alley in the City of Medina. The property is approximately 4.2 miles from the I-71 and SR-18 intersection.