Excellent opportunity to own a Modern Office building in a desirable Business Park with Social Security as Tenant. Built specifically for Social Security occupancy. Single tenant, monthly rent automatically deposited. Rent increased 5-23-21. Tenant just signed a 5 yr. extension. Scheduled rent increases 21.74% during the extension period (an average of just over 4% per year). Current net operating income of $70,288 is a 7.6% Cap Rate. Annual Real Estate Tax Escalator, Annual CPI adjustment for operating costs. Operating expenses listed are an average of 2016 thru 2020 actual expenses. A purchase at the listed price plus estimated acquisition costs, with projected net income based on scheduled rents, and assuming a $1,125,000 sale price at the end of the extension generates a 10.17% Internal Rate of Return, Owner has relocated out of state and is looking to exchange into and investment in that location.
MLS# | PALN114630 |
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Listing Type | For Sale |
Style | Industrial |
Sub-Type | Resale |
Status | 10000069142 |
Year | 1995 |
Days On Site | 282 |
SQ Feet | 5,400 |
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Units | 1 |
Zoning | O-I |
Area Information | |
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State | PA |
County | LEBANON-PA |
City | LEBANON |
Zip Code | 17042 |
Area | North Cornwall Twp (13212) |
Listing VS Median (in 17042) | |
Price: $925,000 low | high Med: $191,180 SqFt: 5,400 low | high Med: 1,483 $ / SqFt: $171 low | high Med: $129 On Site: 282 low | high Med: 23 Sourced by Back At You |