22 W Main St - Ione Post Office
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22 W Main St - Ione Post Office
7,000 SF Specialty Building Offered at $1,300,000 at a 5.30% Cap Rate in Ione, CA 95640
Investment Highlights
- Long term tenant in new 5 year lease
- Room to grow with one 2 bedroom nearly finished unit
- Two popular Air BnBs
- Room to grow with an unfinished studio space.
Executive Summary
Historic Commercial Property! Rare Prime Investment Opportunity with excellent Cap rate groth potential with two addional unfinished units. Located in the heart of historic Ione, home of iconic Preston Castle, this charming property offers a unique blend of residential and commercial income potential. Just steps from popular restaurants, shopping, and the iconic Preston Castle, this property is a rare investment opportunity. Features include: - A one-bedroom apartment, successfully operated as a temporary vacation rental with consistent bookings. - A studio apartment, also frequently rented as a temporary vacation rental. - A beautifully updated two-bedroom apartment, nearly complete and awaiting final permits. A convertible storage space, ideal for transforming into another rentable studio. - The commercial portion of the building is leased by a long-term tenant that recently renewed their 5 year lease, providing stable and reliable income. A welcoming lobby, beautiful patio, and 15 private parking spaces. With its prime location in the heart of Ione and a solid mix of commercial and residential spaces, this property presents an attractive investment opportunity. Ideal for investors seeking a combination of historic charm, stability, and long-term profitability.
Property Facts
| Price | $1,300,000 | Property Subtype | Post Office |
| Price Per SF | $186 | Lot Size | 0.25 AC |
| Sale Type | Investment or Owner User | Building Size | 7,000 SF |
| Cap Rate | 5.30% | No. Stories | 2 |
| Sale Conditions | 1031 Exchange | Year Built | 1933 |
| Property Type | Specialty |
| Price | $1,300,000 |
| Price Per SF | $186 |
| Sale Type | Investment or Owner User |
| Cap Rate | 5.30% |
| Sale Conditions | 1031 Exchange |
| Property Type | Specialty |
| Property Subtype | Post Office |
| Lot Size | 0.25 AC |
| Building Size | 7,000 SF |
| No. Stories | 2 |
| Year Built | 1933 |
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zoning
| Zoning Code | NC |
| NC |
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Presented by
Sierra Real Estate Services Inc
22 W Main St - Ione Post Office
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