Description
Fully leased Medical/Office Park with 8 tenants on modified gross leases. Current income for 2022 is $357,857.40 with projected expenses of $97,044.46 or less giving a projected NOI of $260,812.94 making this a 10.86% cap rate investment. Approximately 3 acres of high land behind the Bank included with the sale for future development potential. Additional acreage behind the buildings is mostly swampland. Actual 2021 NOI was $194,017.25 due to having $30k less in rents with vacancies, $36k upfitting those vacancies, $12k in Real Estate commissions, and paying electric bills on vacancies., Property is for rent, est Taxes 34582.00, Current Lease See docs, Annual Income is 357857.40
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0BEDS
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25ACRES
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0BATHS
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01/2 BATHS
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32,066SQFT
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$75$/SQFT
School Ratings & Info
Description
Fully leased Medical/Office Park with 8 tenants on modified gross leases. Current income for 2022 is $357,857.40 with projected expenses of $97,044.46 or less giving a projected NOI of $260,812.94 making this a 10.86% cap rate investment. Approximately 3 acres of high land behind the Bank included with the sale for future development potential. Additional acreage behind the buildings is mostly swampland. Actual 2021 NOI was $194,017.25 due to having $30k less in rents with vacancies, $36k upfitting those vacancies, $12k in Real Estate commissions, and paying electric bills on vacancies., Property is for rent, est Taxes 34582.00, Current Lease See docs, Annual Income is 357857.40
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