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.
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Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 9th June, 2023 1:13 AM (UTC)
