Established art gallery complex with 20 year history of over 200 exhibitions. The gallery sells to clients from around the world and has a strong online presence. In addition to 4 gallery spaces the complex contains 16 working artist studios, 2 escape rooms, 15 wall spaces, and a free teen program - part of our 501(c)3 non profit. The building also contains a type 42 licensed Art Bar (beer and wine) as well as a lounge and kitchen space.
The building has 60 solar panels, LED track lighting throughout, new roof in 2016, all new HVAC units in the last 5 years, full ADA compliance downstairs, and 4 remodels completed in the last 20 years.
Some studio rents are low as they are part of the non profit and only raised when tenants move out. Therefor, it has truly become a family within the space and many artists have had their spaces for 10+ years. However, newer spaces (consisting of about 50% of the spaces) are being leased for between $3-$4.50/psf per month.
I am looking for a 30% silent partner for profit sharing in both the art gallery and real estate.
Once you take the 3D Tour below you will understand why the space is so special. Email me with interest or to find out more. No phone calls please. If it is a good fit we can set up a phone call after initial email communication. 4.2% cap rate currently/ to start. Will increase as rents increase.
https://my.matterport.com/show/?m=4PP9UUA5dN3