Description
Excellent opportunity to own, lease or occupy a Modern Office building in a desirable Business Park. Social Security is the current tenant, but is expected to vacate the building within the next 6 to 12 months. The building will then be available for a new tenant or owner/occupant. Current net operating income of $70,288 is an 8.27% Cap Rate. When Social Security vacates, leasing at the estimated Market Rent with limited expenses of Real Estate Tax, Insurance, Lawn Care & Snow Removal projects a Net Operating Income of $74,600 which boosts your return to a 8.78% Cap Rate at the listed price. A modified Net projected operating statement for post SSA occupancy has been uploaded under documents icon, Owner has relocated out of state and is looking to exchange into an investment in that location.
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0BEDS
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1ACRES
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0BATHS
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01/2 BATHS
Description
Excellent opportunity to own, lease or occupy a Modern Office building in a desirable Business Park. Social Security is the current tenant, but is expected to vacate the building within the next 6 to 12 months. The building will then be available for a new tenant or owner/occupant. Current net operating income of $70,288 is an 8.27% Cap Rate. When Social Security vacates, leasing at the estimated Market Rent with limited expenses of Real Estate Tax, Insurance, Lawn Care & Snow Removal projects a Net Operating Income of $74,600 which boosts your return to a 8.78% Cap Rate at the listed price. A modified Net projected operating statement for post SSA occupancy has been uploaded under documents icon, Owner has relocated out of state and is looking to exchange into an investment in that location.
©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Jim Powers Team- Berkshire Hathaway Home Services Homesale Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-01-24T16:52:01.12.