Description
COMPLETELY RENOVATED IN 2018 - new lobby, roof, windows, doors, HVAC, electrical, plumbing, security system and landscaping - new addition completed in 2019 - back up generator CREDIT TENANTS 9-10 years remain on Triple Net Leases with rent escalators and options to renew - Hagerty Insurance - Chase Bank - Sorrelina NOI $1,312,469/7% CAP Rate PRIME LOCATION - located on main downtown corridor offering prime visibility and access - across from public parking deck - 25 onsite parking spaces - ATM on site Terms of sale are: Assumption of non-recourse CMBS loan to qualified borrower, fixed rate 5.29% thru 9/29/2029, loan balance approximately $11,300,000 as of 7/1/2020. Or, if Buyer prefers other bank financing (or cash), Buyer shall pay defeasance fee on Seller's existing loan.
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0BEDS
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0.76ACRES
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0BATHS
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01/2 BATHS
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70,000SQFT
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$269$/SQFT
School Ratings & Info
Description
COMPLETELY RENOVATED IN 2018 - new lobby, roof, windows, doors, HVAC, electrical, plumbing, security system and landscaping - new addition completed in 2019 - back up generator CREDIT TENANTS 9-10 years remain on Triple Net Leases with rent escalators and options to renew - Hagerty Insurance - Chase Bank - Sorrelina NOI $1,312,469/7% CAP Rate PRIME LOCATION - located on main downtown corridor offering prime visibility and access - across from public parking deck - 25 onsite parking spaces - ATM on site Terms of sale are: Assumption of non-recourse CMBS loan to qualified borrower, fixed rate 5.29% thru 9/29/2029, loan balance approximately $11,300,000 as of 7/1/2020. Or, if Buyer prefers other bank financing (or cash), Buyer shall pay defeasance fee on Seller's existing loan.
The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. © 2020 Northern Great Lakes REALTORS© MLS. All rights reserved. Data last updated: 2020-09-26T12:52:00.553.