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 months. The building will then be available for a new tenant or owner/occupant. Current projected net operating income of $75,981 is an 8.94% Cap Rate for existing Social Security Gross Lease. When Social Security vacates, leasing at a conservative estimated Triple Net Market Rent ($17/sf) projects a Net Operating Income of $94,860 ; and increases cap rate to 11.16% at the listed price. A Net projected operating statement for post SSA occupancy has been uploaded under documents icon, Owner has retired and relocated out of state and is looking to exchange into an investment in that location.
-
0BEDS
-
1ACRES
-
0BATHS
-
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 months. The building will then be available for a new tenant or owner/occupant. Current projected net operating income of $75,981 is an 8.94% Cap Rate for existing Social Security Gross Lease. When Social Security vacates, leasing at a conservative estimated Triple Net Market Rent ($17/sf) projects a Net Operating Income of $94,860 ; and increases cap rate to 11.16% at the listed price. A Net projected operating statement for post SSA occupancy has been uploaded under documents icon, Owner has retired and relocated out of state and is looking to exchange into an investment in that location.
©2023 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: 2023-03-28T19:50:55.843.