672 Ridge Hill Dr - Office FOR SALE


New Braunfels, TX 78130- South Comal
$1,950,000 USD
830-832-5740
672 Ridge Hill Dr, New Braunfels, TX for Sale
$1,950,000 USD
Office - FOR SALE
1/39
null | 6.03% Cap Rate

672 Ridge Hill Dr
New Braunfels, TX 78130
South Comal


HIGHLIGHTS

  • High-class office building excellent for a 1031 exchange, real estate investor, or owner-occupied situation
  • Presently 100% occupied, $171,665 annual gross income, $117,547 Net annual income
  • Main tenant for 52% of building is in a 5 year, triple net lease with inflation protection
  • Location, location, location sitting in the middle of one of the fastest growing real estate markets in the country
  • Priced well below replacement cost for the area
  • Price has been lowered to its absolute lowest point; therefore, lower offers will not be considered

OVERVIEW

This high-class office building is excellent for a 1031 exchange, real estate investor, or owner-occupied situation. It is presently 100% occupied and generates $171,665 gross/$117,547 net annual income per year in one of the fastest-growing locations in the United States. There are four tenants(one being the owner) for diversification, all in triple net leases. The primary tenant(Suites A1.1, A1.2, A1.3, A1.4, A1.6, and A1.8 see diagram) has a 5-year triple net lease with built-in inflation protection. If a buyer is looking for an owner-occupied situation, the tenants in the other suites have one-year terms, and the owner would let his office go immediately if needed(A1.5 and A1.7), which includes exclusive use of the reception area. The price has been lowered to its lowest point; therefore, lower offers will not be considered. The owner has also decided the building will no longer be offered for sale after March 15, 2025.

FOR SALE DETAILS

PRICE

$1,950,000 USD

PRICE/SF

$460 USD /SF

CAP RATE

6.03%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

19

LAND DETAILS

LAND ACRES

0.66 AC

LAND SF

28,750 SF

ZONING

C1A

APN/PARCEL ID

35-0486-0051-00

ASK ABOUT THIS PROPERTY

Bob BarberBob BarberMore Info
830-832-5740

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Bob BarberBob BarberMore Info
830-832-5740

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.