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.
Courtesy of: Suburban Realty 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: 21st September, 2021 2:44 PM