26th & J Assemblage
5 Properties
Midtown
26th & J Assemblage
Region: Midtown
Use: Retail / Multifamily / Office
Lease or Sale: Sale
Building Size: ±24,517 SF
Sale Price: $8,000,000
Turton Commercial Real Estate is pleased to bring to the market the 26th and J Assemblage, a unique opportunity to purchase a mixed-use community of properties located in the heart of the region’s hottest submarket. The Properties include 2601 and 2615 J Street and 911, 915, and 917 J Street.
The entire portfolio is being offered at a price of $8,000,000. Based on conservative market rents for like space in the immediate area, it is reasonable to assume an investor could improve all of the properties for a total cost of $2,000,000 and achieve pro-forma annual Net Operating Income of approximately $612,000 annually effective October 2023 and approximately $660,000 effective 2025.
Assuming the 9 plex is fully renovated and remaining properties are brought up to market standard condition, it is reasonable to assume disposition pricing in 2025 of approximately $12,400,000.