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1st Floor - Unit A
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Office
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7,326 SF
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$700,000 USD
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Unit Size: 7,326 SF
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Condo Use: Office
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Price: $700,000 USD
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Sale Type: Investment or Owner User
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Price/SF: $95.55 USD
Description
The basement level of the building is what is for sale. The current property owner completely improved the space into multiple, affordable rental offices which all share: (i) a waiting/reception area, (ii) a large conference room (available to be reserved on a first come first serve basis), several restrooms, and a shared break room. 18 out of 23 spaces are currently rented. Owner may use vacant spaces for their own use or may rent out for increased cap rate. There is a building HOA that manages snow removal, landscaping, and property issues. There is an elevator to the lower level as well. Please note, showings will only be permitted once an initial accepted offer has been agreed. Offers should be submitted based on financials provided in this listing. Proof of funds or pre-approval required in advance. Will not disturb tenants prior to accepted offer. Right of First Refusal permitted in ByLaws to adjacent parcel owner.
Sale Notes
10.2% Cap Rate reflects Purchase Price at full asking price with current occupancy (several units are vacant). Sale includes 5 Parcels! If the units are Fully Occupied, the Cap Rate would be 15% at the current asking price. This is an excellent ROI! Priced to sell. If you are looking for excellent cash flow and low maintenance, look no further.
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Vikki Garby
Green Team Commercial
