5,000 SF, 4 Unit Retail Strip Center
When KNL Group took over management in February 2016 from the long time owners, the rents were 20% under market, NNN fees were not being charged to the tenants, the building facade exterior was in need of updating and the landlord was at a disadvantage due to the poorly written leases from the previous ownership.
To date, the annual rental has increased by nearly 25% in addition to the $18,000 in annual property taxes now being collected from the tenants. New multi-year leases are in place and the building exterior was completely renovated and the new skylights have been installed. Net change to the landlord is hands-free ownership and approximately $54,000 increase in net income.