Adaptive Reuse Opportunity — With one of the two retail leases expiring next year, new ownership has the opportunity to maximize value by repurposing the space into three additional apartment units, a single high-end penthouse, or by re-leasing to a new commercial tenant. This flexibility allows investors to align the property’s use with market demand and optimize returns.
Condo Conversion Potential — USNB’s individual apartment units can be converted into condominiums, providing ownership with strategic exit flexibility. This structure enables a future sale either as a stabilized multifamily asset to an institutional investor or as individual condo units to end-users. By unlocking the potential for retail pricing on a per-unit basis, new ownership could significantly enhance total asset value and maximize disposition proceeds.
Attractive Assumable Financing — USNB offers the ability to assume attractive existing agency financing at a below-market 3.83% interest rate with six years of term remaining. This favorable debt structure provides strong in-place leverage, enhances cash flow, and reduces interest rate risk in today’s higher-rate environment.
