Listed by Fortune Associates
$2,019,000
406 East Elm Avenue
Details
APN 072-143-21S
Property Type Office
Sub Type Executive Office
Square Footage 3,264
Cap Rate 6.10%
NOI $123,244
Lease Term 10
Lease Expiration 02/28/2034
Remaining Term 7.7
Year Built 2004
Buildings 1
Stories 1
Acreage 1.300
Lease Commencement 03/01/2024
Occupancy Date 03/01/2024
Office | 6.10% CAP | 3,264 SF
Marketing description
The property is a build to suit development for DMV, which was completed in 2004. The lease has just been renewed for a ten-year term with five years firm. The new rent started March 1, 2024 at $13,000.00 per month with five (5%) annual increases over the first two years and adjusts to three (3%) annual increases for the remainder of the lease term. As part of the lease extension the Tenant has expended $148,670 in improvements, including updating tech equipment, computer, HVAC, etc.
Listing Contacts
Listed by Fortune Associates
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$123,244.00
$10,270.33/mo
Valuation Metrics
0
DSCR
6.1%
Cap Rate
6.1%
ROI
Map
Zoning
MX MixedMixed UseMixed Use
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