COMMERCIAL 10 UNIT BUILDING WITH WATER VIEWS!!! 10% CAP RATE!!

[Dana R.]

This is an 8000 sq foot building that consists of 10 office space units. Some units have been remodelled and combined for bigger space. Past rents range from 500-800 for each unit which puts an above 10% potential net cap rate! Roof is metal that was put on in 2004. Yearly taxes are $4,928.45 and the building has separate electric meters and one water meter that had an average water bill of $300 a month when it was fully occupied! 5 parking spaces in front of building with one handicap space PLUS the joined parking lot for extra parking! This building has an outside detached storage unit located in the parking lot. 

Owner selling for health reasons!! In this area, Office buildings sell at 6-7% Cap Rate... Once at a 100% occupancy, can be sold for $650-700K. 

Purchase Price: $539,900 

Deposit: $20K 

Contact Me For More Details!!