Currently, there is at least one tenant living in this building. I will have to make arrangements for living for the tenant, and may even offer to buy their lease out. The business will have to move out without any compensation until the building is completely renovated. In return, they will have a significant amount of say in how the floor plan will be drawn out. This will also include the mezzanine that will be accessible through the first floor business. If they move out temporary or permanently – then the first floor will be completely renovated. No matter what, the backside of the building will be converted into a 2 car garage. This will mean the business will lose about 625sf of space. This space will be $3,500+utilities. The reason for the extra cost of rental space when compared to the other storefronts is because they also have a mezzanine which will increase the space they have.
The 2 upper floors will provide for 2B/1b/1l apartments. There is not much to say about these with the exception they have been completely renovated to meet my standards. The current tenants upstairs will have to move out, but they can have the option of returning if they should wish to. Each of the two apartments will be $2,000 per month.