Property details
Commercial Property For Sale, Great Lakes - Big Rivers Region
Property Description
• Commercial Property For Sale in great location with Interstate Frontage
• Room for Expansion
• Credit Tenant
• 100% Occupied Class "A+" Office Building leased to a single credit tenant
First Class commercial property for sale with a single tenant with excellent credit. NNN lease. More than 500 parking places on a 8 acre site. This majestic four story commercial property for sale towers above the adjacent Interstate 69 and is the most prominent multi-tenant commercial property in the city.
NOI Current: $1,504,551.00 (6.04% CAP)
NOI after 4/1/08 $1,702.691.00 (6.83% CAP)
Images
Highlights
- Status:
- Available
- Price:
- $24,900,000
- PSF:
- $199
- Cap Rate:
- 6.83%
- Annual Rent:
- $1,702,691
- Rent Increases:
- Inquire
Property Information
- Building Size:
- 125,290 sq.ft.
- Property Type:
- Net Lease
- Industry Type:
- Office
- Units/Spaces:
- 1
- Year Built:
- 2003
- Land Area:
- 8.00 acres
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Bank
- Lease Type:
- NNN
- Lease Commencement:
- 2/1/2003
- Lease Expiration:
- 2/1/2013
- Lease Term:
- 10 years
- Years Remaining:
- 4 years
- Landlord Responsibilities:
- None
- Options:
- Inquire
Existing financing information
- Interest rate:
- 6.75%
- Amortized over:
- 25 years
- Annual Cash Flow:
- $1,702,691
- Cash on Cash Return:
- 15.62%
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.