A 1031 property exchange is quite common among real estate investors. However, it’s not like one can sell one property and buy another in exchange. There are many specific requirements to be met before completing a sale – one of them being the 45-day identification window, wherein one has to sell and buy the property within a time frame of 45 days. However, in the case of 1031 property exchange, one can exchange a residential property for an office/commercial building and vice versa. If you’re planning to invest big, take a look at these 1031 property listings.
109 N Ivy Ave, Monrovia, California
This suburban office building has a current vacancy of 1,076 square feet. The owner is currently occupying 1,283 square feet, which the owner agrees to vacate within 90 days or even continue to lease till June 2022. This C-class building, built in 1982, offers a typical floor size of 4,456 SF and 14 parking spaces. As for the neighborhood, it is the most diverse area in the country, with family-friendly communities. The residents have a variety of options for retail, restaurants, and entertainment.
7220 Marbach Rd, San Antonio, TX
This apartment building in San Antonio, Texas, boasts a building size of 149,184 SF and features two stories. This multifamily apartment building comes with brick-accented façades and landscaped grounds, which add to the aesthetics of the apartment building. The property also has a recently renovated swimming pool, windows and doors, bathroom, fitness center, business center, picnic area, laundry facilities, playground, and more. The unit amenities that come with this 216-unit two-story apartment include patio, wheelchair-accessible rooms, vinyl flooring, tile floors, dishwasher, refrigerator, pantry, storage space, heater, and walk-in closet.
4200 NW 16th St, Lauderhill, Florida
This six-story office building features a floor size of 14,792 SF, a standard square feet size for respective floors. All six floors are available for office use, accessible 24/7 with a security system. Fort Lauderdale, Broward County’s largest office employment hub, makes for the perfect space to rent. All different floors can be leased to separate offices. The biggest plus of this office hub is the close proximity of the downtown central business district and South Florida’s main highway arteries that include Interstate 95 and U.S. Route 395. With the rate of $59/SF, this commercial building is listed at an asking price of $5,200,000.
4201-4225 Avenue D, Brooklyn, NY
This one-story commercial building was built in the 1933 and boasts of a building size of 19,000 SF. Additionally, this property comes with an additional 15,000 SF of basement and storage place. When leased to a brand into service industry, the property charges $20.57/SF for an area of 3,500 SF and $15/SF for 9,500 SF area for a retail brand. This commercial property comes with the added benefit of consistent foot traffic, given that the store has been functional for years and the fact that it has a bus stop right in front of the store. The property comes with flexible zoning that allows the property owner to build a residential block or a commercial building. Another plus is this property’s floor plan that comes with adjustable floor plate layouts. This allows the new occupant to easily turn it into a retail store or use the adjustable floor plan to build an office with multiple walls and cabins.
MarketPlace Grill, 600 Skyline Dr, Conway, AR
This one-story 4-star building boasts a building size of 8,364 SF and is listed at an asking price of $3,104,014, which makes it $371/SF. This restaurant property located at 600 Skyline Drive comes with a 10-year NN+ lease and is currently owned by Clean PLate Restaurants, Inc. The roof was recently remodeled in 2018, and the property is designed in all-white and glass. It is strategically located at the intersection of Skyline Drive/Highway 65 and 1-40, which gets them an exposure of at least 91,000 vehicles passing each day. The neighborhood of this restaurant is backed by retails like Walmart, Lowe’s, JCPenney, and Cinemark. Additionally, this property has a scope of future development with a 1.65-acre lot, which is available at an additional price.
22820 E Appleway Ave, Liberty Lake, WA
This office building at Liberty Lake, WA, comes with the advantage of having a busy neighborhood that comprises established brands like Itron, Precision Cutting Technologies, and Ptera Inc. This commercial property boasts a building size of 36, 498 SF, and two of its major tenants include Integrity Fitness and Kindred Health Care, which shared the space with 10,800 SF and 20,060 SF, respectively. The asking price for this property is $6,100,000, which comes to $167/SF. This commercial building, spread across 1.77 acres of lot, comes with 173 parking spaces. Although 6,000 square feet of land is available immediately for a user, and it comes with a contract where the user can expand in the future. This commercial building sits amidst a population of 51,300 residents, contributing to a total spending capacity of $582 million. This B class building belongs to a zoning of 1-2, Spokane, and the property was built in 1992 but was renovated in 2015.
