2550/2560 Richmond Terrace

Incredible opportunity for an investor to own 2 massive lots totaling 22, 550 square feet, right on Richmond Terrace in the heart of Elm Park. The land is currently occupied by a pair of auto body shops, and is being rented out by Caliber Collisions for $15, 500 per month -- as well as a smaller unit, which is occupied by Bones Auto Body, and goes for $2500 per month. Caliber Collisions occupies 3 units between both buildings and is currently 3 years into a 10 year long true, triple net lease. This lease includes a 5% increase every 5 years as well as two 5 year options to renew with the same terms. Total rent roll for the building is $15, 142. Both 2550 & 2560 Richmond Terrace are on separate lots but are being sold together. All inquiries and showings thru listing agents.