Turton Commercial Real Estate is proud to offer the opportunity to acquire fee simple interest in 3639 Franklin Blvd (“The Property”), consisting of a 7,173 square foot parcel with a well-maintained ± 2,780 square foot standalone building. At just $271 per square foot, this site represents a unique value proposition for an owner-user or retail investor, as these “bite-sized” properties become increasingly rare within Curtis Park and other established central city neighborhoods. The $743,000 sale price represents an approximate 9% cap rate on a hybrid of existing and pro-forma modified gross rents, less potential improvements. With approximately 55% of the building occupied by modified gross retail tenants across two suites, the remaining ± 1,260 square foot suite is currently vacant with full hair salon infrastructure in place and ready for immediate owner-user or NNN tenant occupancy. The Property may also be purchased as a future infill development site, with the recently adopted 2040 General Plan allowing for a minimum of 15 Residential Dwelling Units Per Net Acre and a Maximum Floor Area Ratio (“FAR”) of 4.0, by right. This equates to the potential for ± 28,000 square feet of mixed-use residential. Conversely, a buyer can make modest aesthetic updates to The Property, renew existing tenants at market rents with NNN leases and, as interest rates and cap rates recede, achieve premium disposition pricing.