Sold Alerts provide potential sellers with hard-to-get comparable sale information.
- A Five Points residential property with attractive commercial zoning recently sold for full asking price.
- 116 South 11th Street consists of two buildings totaling 3,076 SF.
- The 50’x170’ land parcel totals .19-acre.
- “American foursquare” design.
- Both buildings were updated in 2021.
- At time of sale, Ashley Khristine Fitness operated from the property.
- Located across from Fanny’s House of Music, the property is zoned both CL (Commercial Limited) and MULA which allow for office, retail, restaurant and hospitality uses.
- The buyer put 25% down with a $1.75M note coming from FirstOak Bank at 6.6% interest.
- The seller also provided a second position, two year note for $150,000 at the same interest rate.
- The property last sold in 1996 for $73,000.
- On the market for 74 days, the property just sold for $2,499,000…the equivalent of $812/SF.
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About Beau Beach, MBA CCIM
Beau is a battle-tested Commercial Real Estate Broker, entrepreneur, author and adoring father of four. His clients appreciate his no-nonsense demeanor and his legendary work ethic.
Beau leads Beachwood which is an elite commercial real estate brokerage for sellers in the Southeast.
He’s earned the revered “CCIM” designation which is awarded to the top 6% of all commercial real estate brokers.
He’s the author of the books The 3 Reasons: Why Most Commercial Properties Don’t Sell and True Wealth: What Every Seller Should Know About 1031 Exchanges.
Click to schedule a call with Beau or email to Beau@SoldbyBeachwood.com