111 South Lander Street

Lee & Associates is pleased to present the First South Building, a three-story mixed-use building located on First Avenue South across from Starbucks and adjacent to the new Lander Street overpass. Built in 1905, this asset was constructed using substantial old growth wood beams and thick tongue and groove flooring. Today, with significantly below-market rents and 6,000 square foot floor plates, 111 South Lander presents a rare opportunity for an investor or owner/user seeking a hands-on adaptive reuse, open concept office, or craft-makers space. A proactive buyer has the opportunity to rehab the retail presence on both First Avenue South and next to the soon-to-be-completed Lander Street overpass, transform the second and third floor spaces into modern boutique offices or craft ‘makers’ spaces, and realize additional value from the basement storage units (which are currently being used by the seller and provide no income). These modifications offer the chance to secure strong upside cash flow for an investor, create an impressive headquarters for an owner/user, or act as a hybrid (owner occupant building with income) for an owner-occupant. A BOMA remeasurement to add footage coupled with bringing tenants to market or re-tenanting as needed brings significant upside and, should a buyer choose to opt into them, opportunity zone tax advantages with long-term site upside for a future redevelopment play.