True 8+% Cap Rate From 59 Rental Units!
|Catylist Listing ID:
Flex Space, Industrial-Business Park, Mixed Use, Light Industrial, Office Showroom, Research & Development, Self Storage, Warehouse/Distribution, Other
|Building Size (RSF):
|Gross Building Area:
|Gross Land Area:
|Property Use Type:
||Seaboard Office Park
||Cash to Seller
Overview / Comments
Strong cash flowing investment waiting for new owner! A mixture of 35 warehouse and 24 office units make up the 59 unit rental investment. Got a void? Then only get a +/-2% drop in occupancy! Average occupancy 97%+. Buildings have been well cared for: Repainted 2012, New roof 2013, Air Conditioning units - 6 of 7 around 4 years old, City water and sewer. Income flowing is $303k, expenses (INC tax, insurance, repairs and on-site management) $72k leads to NOI of $231k or 8.4% cap rate!
Full details available subject to completion of NDA. All information regarding the property, including but not limited to financial information and projections (e.g., cap rates and valuations) are based on information from a variety of sources including but not limited to public records and owner-provided data. While information is believed accurate, neither the listing agent or broker make any representation or warranty as to its completeness, and you should not rely upon it without conducting your own due diligence and investigation to determine whether the property meets your criteria and is a suitable investment. Past results are not necessarily indicative of future performance. Owner provided financial information will be available for review upon execution of a confidentiality agreement.
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