109 Scripps Drive
Office | 6.75% CAP | 8,958 SqFt
Marketing description
109 Scripps Drive represents one of the only truly creative office environments in Campus Commons. The office space is thoughtfully designed, architecturally distinct, and surrounded by an amenity base that punches far above a typical suburban location.
With approximately 3,300 SF available, the offering provides a rare opportunity for an owner/user or tenant to establish a presence in a building where the majority of the space is already leased, creating both immediate credibility and built-in income.
The balance of the building (approximately 5,658 SF) is leased to Sequel Insurance through November 30, 2032, currently generating approximately $158,000 in gross annual revenue. This provides a meaningful income offset for an owner/user while maintaining flexibility for a tenant to step into the available space.
Investment highlights
- ± 8,958 SF Building
- ± 3,300 SF Available for Lease
- $2.6M Asking Price
- $2.60 SF/Month/MG
- 40+ Restaurants Nearby
- Sequel Insurance leased through November 30, 2032, generating approximately $158,000 in gross annual revenue
- Lease has 3% per annum increases
- Tenant has two (2) five (5) year options to renew at FMV
- 14 free parking stalls for owner-user
- Net Operating Income: $178,415.78
- Value at 6.75% Cap Rate: $2,643,196.80 ($295.07/SF)
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