Elizabeths Corner 568 Lebaum St SE

10,004 SF Mixed-Use Development Potential property. Existing Space: (4) retail storefronts, (1) Office, (1) Triplex currently 33% occupied.
When fully leased, the property has the potential to generate $295,000+ per year in gross revenue. Additionally, if you choose to develop the property, it can continue generating income during the entitlement process, ensuring the site remains active and productive throughout the development timeline.
The property is situated next to the Saint Elizabeth's Redevelopment- A $500M+ redevelopment project driving the area's revitalization with 1.8M SF of office space, 1,300 residential units, 200K SF of retail, two hotels, and a hospital. The property’s walking distance proximity to the redevelopment site positions it to benefit significantly from increased foot traffic, heightened visibility, and growing demand driven by the ongoing transformation of Saint Elizabeth's Campus.
The property is located in a designated Opportunity Zone, offering significant tax benefits to ownership. Additionally, investments in Opportunity Zones can contribute to community revitalization, job creation, and affordable housing, while benefiting from local development incentives. This presents a unique opportunity for long-term wealth building and strategic growth.