1827 Wardrobe Ave, Merced, CA 95341

Property Description

Three buildings 1827, 1859 and 1863 Wardrobe Avenue. Each building is 100' x 100'=10,000 SF and were desgined to be split into quarters (i.e. 50 x 50' = 2,500 SF spaces. 1863 Wardrobe ,the bldg. closest to the street has 4 x 2,500 SF spaces. It is estimated to have been built around 1980 m/l. It is on city water but has its own septic system. It is not sprinklered. The back 2 bldgs. were built around 2005 and are on city water and sewer, are fully insulated, sprinklered and have multiple skylights.1859 has a 10,000 SF space with 4 ADA compliant restrooms and can be split into 2,500 SF units. 1827 has 2 x 2,500 SF spaces and a a 5,000 SF space. 4.26 acre lot is zoned I-L (Light Industrial) in the Merced Airport Industrial Park. Reputedly (Buyer to verify) there is existing infrastructure (i.e water lines, sewer lines, fire hydrant and storm drainage, etc.) for three additional buildings (100' x100' = 10,000 SF each) to be built on the lot. Existing Gross Scheduled Rents are $12,550 / month = $150,600 Gross Scheduled Income annually. Existing buildings are fully leased and some of the rents are believed to be below current market. Buyer to cooperate with Seller in order for Seller to do a 1031​​‌​​​​‌​​‌‌​​‌​​‌​​​‌​​​​‌‌​​​‌​​‌‌​​​‌ exchange.