Listed by Keller Williams Gateway LLC
$600,000
UPDATE!! RESTRUCTURED LEASE, NNN, RENEWED FOR 7 YEARS!
Details
APN 020E K 01500
Property Type Mixed Use, Office
Sub Type Creative Office, Executive Office
Square Footage 1,670
Units 1
Cap Rate 8.4%
NOI $50,400
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 14
Lease Expiration 10/01/2034
Remaining Term 8.2
Rent Bumps Yes
Price per SqFt $359
Broker Co-Op Yes
Class B
Year Built 1949
Year Renovated 2018
Buildings 1
Stories 1
Acreage 0.166
Zoning C-3
Parking Spaces 7 spaces
Parking per 1,000 SqFt 4.19
Investment Type Net Lease
Lease Commencement 10/01/2020
Occupancy Date 10/01/2020
Ground Lease No
UPDATE: NNN renewed for an additional 7 years!
Marketing description
UPDATE: ***Original Lease has been restructured to NNN, and renewed for an additional 7 years.*** Don’t miss out on the chance to invest in up-and-coming Lenoir City! Great office space in the heart of Lenoir City. Recently and extensively renovated with reinforced concrete driveway and garage built to house an ambulance. Property is currently being occupied by wonderful long-term tenants (Priority Ambulance), and being used as one of their many offices and dispatch locations.
Investment highlights
NNN lease
renewed for an additional 7 years
fabulous long-term tenants
recently renovated
Listing Contacts
Listed by Keller Williams Gateway LLC
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$50,400.00
$4,200.00/mo
Valuation Metrics
0
DSCR
8.4%
Cap Rate
8.4%
ROI
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