326 Main Street

Description

First time visitors are surprised when they stroll through this building. Its like walking the streets of a European village. The indoor terrace with stamped cobblestone flooring, decorative plants, sidewalk restaurant seating and bright dcor gives the illusion that you are on vacation. Tenants and their customers enjoy the pleasant surroundings, having breakfast or lunch at Clydes Caf or coffee on the terrace. This downtown, landmark building was one of the first buildings constructed in Delta in 1897 with upgrades throughout the years. It sits on a small lot yet has just under 12,000 sq.ft. Zoned B-1 and located in the Opportunity Zone designated area, this property provides investors future growth. There are 20 to 24 units, sits at 90% occupied with short term leases allowing flexibility for the new owner. Below market lease rates keeps the building as well as providing potential upside in future net revenue. Only 2 units are currently vacant and there are several units that are not utilized as rentable space but could easily be converted to leasable space. Many improvements have been made including new grease trap for the restaurant; rebuilt evaporative cooler for the main area, new LED lighting throughout the main hallway and the faade lighting, Conklin Roof coating done in 2016 and more. This property would make a great investment, converting leases to longer terms, or as an owner/occupant with rental income or totally repurpose the building. Multiple options to consider. Financial information available.