Listed by Matthews Commercial Properties LLC
$2,950,000
765 Straits Tpke
Details
APN 4-06-418
Property Type Office
Sub Type Medical Office
Square Footage 32,708
Net Rentable (SqFt) 32,708
Units 125
Cap Rate 5.55%
NOI $163,668
Occupancy 50%
Tenancy Multi
Lease Type NNN
Pro-Forma Cap Rate 12.06%
Pro-Forma NOI $355,800
Price per SqFt $90
Class B
Year Built 2003
Buildings 1
Stories 2
Acreage 10.460
Zoning CA40
Parking Spaces 125 spaces
Parking Per SqFt 3.82
Investment Type Value Add
Ceiling Height 10'
Office | 5.55% CAP | 32,708 SqFt
Marketing description
Value-Add Office Investment Opportunity on ±10.46 Acres. This ±32,708 SF office building offers significant lease-up opportunity with 50% current occupancy. The property features an In-Place NOI of $163,668 (5.55% Cap Rate) and Stabilized NOI of $355,800 (12.06% Cap Rate). Conveniently located with access to I-84 (Exit 17), the property sits on an expansive ±10.46-acre site with ample parking. The flexible layout accommodates a variety of office and medical uses in an institutional-quality building with elevator service. Located along Route 63 within an established corridor of retail, medical, and professional office users.
Investment highlights
- Significant lease-up opportunity with below-market occupancy
- Expansive ±10.46-acre site with ample parking
- Flexible layout accommodating a variety of office and medical uses
- Institutional-quality building with elevator service
- Located along Route 63 within an established corridor of retail, medical, and professional office users
Listing Contacts
Listed by Matthews Commercial Properties LLC
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$163,668.00
$13,639.00/mo
Valuation Metrics
0
DSCR
5.55%
Cap Rate
5.55%
ROI
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