"INVESTMENT PROPERTY FOR SALE." Fully leased office space in professional medical building. New 5 year lease beginning June 1, 2022, with annual 2% increases. Full time management company running the property and tenant space. Lots of windows with nice views. Approximately 5,700 square foot suite under lease on a five year term with an approximate blended five year monthly average rental rate of $6,600.00 . Rental rate includes CAM, interior cleaning, Condo fees and utilities. Tenant is responsible for phone, cable, internet, Tenant insurance naming Landlord as additional insured. Tenant also responsible for minor maintenance including but not limited to changing of light bulbs.
The Rental Rate includes the 12.99% of the Condo Association Fees, utilities and Real Estate Taxes. Building owner responsible for the payment of the Condo Fees (currently $2,100.00) and Real Estate Taxes (Currently $8,349.00). This give your an approximate $33,549.00 offset against the blended rental rate of $79,200.00 giving you an approximate $45,651.00 without any holdback for Capital expenses give you over a 7.5% cap rate.
11 Exam Room/Private Office, one staff area, four H/P rest rooms, reception and waiting area.
Call for details or private showing.
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: 2nd December, 2023 12:20 PM (UTC)
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