7,000/SF on 1st floor and 300/SF unfinished on 2nd floor.
Over $100,000 was spent upgrading the building in October and November, 2024!!
All new LVT flooring, LED light fixtures, both restrooms & break room were totally renovated, fresh paint inside/outside including all interior doors, all exterior metal doors were replaced with glass doors, new wood base boards, new door handles, nice extra features added in reception area and new landscaping.
Building contains a fire sprinkler system which helps lower insurance cost.
A 64-month modified gross lease was executed with a 25+ year established law firm in January. The lease begins September 1, 2025.
Tenant pays utilities, janitorial and communication expenses.
List price: $1,275,000
The average cap rate over the lease term is +/- 9%. For first 2+ years it will be 8.43% +\- then for the last 3+ years it will be 9.37% +/-.
Contact Hugh Johnson, Broker, at 601-506-4549 or hjohnson@waltermichel.com for more information.