Industrial Condo. Sold as Investment Sandwich

$109,999
Sold
Property type: Investment
SQUARE FEET
1158

The space

  • Year Built: 1988
  • use / Zoning: Flex. Water Resource Overlay
  • Heat: Central Air Conditioning, Forced Hot-Air, Gas
  • Interior Features: First Floor
  • Exterior Features: Bay Door

Amenities

  • Condo
  • Fully Occupied
  • Industrial
  • Office
  • Steel Frame

Description

SOLD FOR FULL PRICE: Industrial condominium measuring 1,158 sq. ft. The longstanding tenant, a music school that is well invested in the community and just signed a 5-year lease that goes through 2020. NOI currently is $8,300 per year. The rent will increase annually. Space has been built out in to rooms for the music school. Bay door in the rear is in place, is covered from inside. Trane HVAC unit installed in 2001. Well managed condominium association. Recent improvements include roof (2008), repaving of driveway/ parking areas and repainting of exterior of buildings. Large shared lobby and rest rooms.

Contact the Agent

Ali Maloney

Owner Broker

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