Cash or New loan Owner May Carry with $3M down 5 year 6% interest only Call for more details.
Leases have annual rate increases built in. 2025 scheduled rents are $904,620 which makes 8.41% ROI with built in reserves of $15,200 (annually) for any upgrade and/or maintenance needs.
These buildings are consistently full. If there is a turn over it is quickly filled. Owner does NO tenant finish. Tenants finish all leased space. There are many tenants that have been here for 10+ years.
The upgrades in 2024 consist of new boiler 10/24, 50+ roof mounted AC units with (2) new roofing and risers (85%+ of the AC units are between 1-5 years old), additional new gutters & drainage, electrical upgrades, parking deck(s) resurfacing, parking lot re-striping, parking garage restriping, new building signage, new exterior paint, digital signage and landscape upgrades.