Listed by Logic Commercial Real Estate Reno, LOGIC Commercial Real Estate
$1,946,000
5975 Alpha Ave
Details
Property Type Special Purpose
Sub Type Airplane Hangar
Square Footage 13,000
Cap Rate 8.00%
NOI $151,671
Occupancy 100%
Tenancy Single
Lease Type NN
Lease Term 5
Lease Expiration 08/31/2029
Remaining Term 3.2
Rent Bumps Yes
Lease Options 5 year
Price per SqFt $150
Broker Co-Op Yes
Year Built 1997
Buildings 2
Occupancy Date 09/01/2024
Ground Lease Yes
Ceiling Height 30'
Airport Hangar| Leased Investment | 13,000 SF
Marketing description
5975 Alpha Avenue is a leasehold investment opportunity located at the Reno-Stead Airport. The property is on an airport ground lease since 1997 and will be renewed, prior to close, on a 20-year ground lease with a 10-year renewal option. The building is currently leased to Tactical Air Support, which has three and a half (3.5) years remaining on its lease term, along with a five (5)-year renewal option. The lease includes 3% annual rent increases at the beginning of each calendar year.
Investment highlights
8% CAP
NNN Lease Structure
Four years remaining on the lease term with a five year renewal option.
3% annual increases
long term ground lease on federal land
Listing Contacts
Listed by Logic Commercial Real Estate Reno, LOGIC Commercial Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$151,671.00
$12,639.25/mo
Valuation Metrics
0
DSCR
7.79%
Cap Rate
7.79%
ROI
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