MLS® ID: 516061
705 N Main St
Cottonwood, Arizona, 86326 $450,000
The property is located as you enter Old Town Cottonwood. Hog Wild BBQ Restaurant and Lisa Cook Salon are the tenants. Hog Wild occupies 1696 sq. ft. and is in the 3rd year of a 5 year lease renewal that commenced 10/31/16, with 3% annual rent increases plus another 5 year renewal option. Lisa Cook Salon occupies 520 sq. ft. and is in the first year of a three year lease renewal that commenced 9/30/18, with no annual rent increases or renewal options. The property has an attractive rock exterior and mature trees. With 0.82 acres, there should be room to build another rental building as long as sufficient parking is provided for all tenants. Cap rate approximately 5.33% at asking price. Contact listing broker to explore ideas on how to increase the cap rate. See Supplement.