3763 Oleander Avenue

BILTMORE COMMERCIAL PARK CONDOMINIUM (OR 2683-2589) BLDG 1 UNIT 1 (OR 2742-1857)The subject consists of 4 contiguous industrial condo units in good condition. The overall property is constructed of concrete block and metal roof. Ceiling Height 20 feet (highest point), Door dimensions 10x10, Construction type Metal frame, insulated walls , insulated ceiling, electrical - single phase , and 7 lifts 220. Currently the units are owner-occupied and operating as a successful auto repair business. The Seller will provide a sale-lease back under a long term basis with a starting rent of $3,900/month for all 4 bays on a modified gross basis. This will provide the investor a long term and stabilized cash flow providing a first year cap rate is 6%. This is an excellent opportunity for a 1031 exchange. In addition, the operating business "Carlile Motors Inc", in place since 2006 is separately available for sale for $395,000. The business sale includes: Lifts Bay 1: 1st Lift: Rotary lift 9,000 lb weight load, 2nd Lift Bendpak 10,000 lb extended top for high top vehicles Bay 2 1 Lift Bendpak 14,000 lb drive on alignment rack with 2 5,000 lb sliding lifting jacks accommodates most vehicles for alignments and service and some 4 door extended trucks to long for alignment. Bay 3 1st Lift: Challenger 10,000 lift (brand new) 2nd lift: Rotary waist high tire / low rise lift 6,000 Bay4 1st Lift: Grand 9,000 lift 2nd lift: Challenger 10,000 lift New floor jacks purchased 2020. All lifts are above ground. All have safety systems in place and have had new cables installed within last year and a half. Age of lifts varies except for new lift installed late 2019 . All lifts are the type that lift vehicle over head for service unless otherwise noted.