Fully Leased Long Term Investment - Zero Landlord Responsibilities

Office for Sale
Catylist Listing ID: 30393775
Property Subtypes: Net Leased, Office Building
Building Size (RSF): 16,000 SF
Gross Building Area: See Agent
Sale Price: $2,700,000
Unit Price: $168.75 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: 5.92%
Last Updated: 5/16/2019

Overview / Comments

A fully leased 16,000 SF freestanding office building located just 1 mile south of Trident Tech with road frontage and a pylon sign on busy Rivers Ave. Upon closing a newly extended master lease with 10 years of term and 2.5% annual increases will be executed with zero Landlord responsibilities. Tenant is responsible for all taxes, insurance, maintenance, etc. This is a perfect no headache property to add to your portfolio. Current NOI will be $159,900 from master lease. This property has a much higher future income potential.

Tenant is Charleston Executive Offices holding a master lease that operates the entire premises and offers different size offices, suites, conference rooms, and other like amenities to companies and individuals that range in a multitude of professional industries from law firms to accountant offices.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 32 - N.Chas./Summerville outside I-526
Tax ID/APN: 4750800007
Property Visibility: Excellent
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 2002
Parking Type: Surface
Total Parking Spaces: 58

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,395 57,435 129,504
Median Age: 31.27 32.55 32.75
Households: 3,147 22,875 49,699
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