State of NV Tenants and nearly a 11% Cap Investment!
Mixed Use | 10.6% CAP | 9,576 SqFt
Marketing description
This mixed use asset includes 2 buildings, the first is ±6,552 square feet and built in 1973 and the 2nd is ±3,024 square feet, built in 1976. All told, there are 3 office spaces, 2 recently remodeled apartments and a storage space. historical occupancy has been strong in this location, and the newly remodeled 1-bedroom apartment can be seen in the pictures, taken just prior to re-leasing.
Lease renewal is now complete with the State of Nevada, which has been an anchor tenant for 20+ years in this property. The Welfare office is now renewed, which is reflected in the financial analysis herein. The Rural Clinics lease was renewed last year for an initial 5 year term.
On average, rents are very strong and the buildings have now achieved 100% occupancy, with rent increases included. Our sales price makes this a 11.83% Cap Rate, making this an easy to manage and attractive investment opportunity.
Investment highlights
- This mixed use asset includes 2 buildings, the first is ±6,552 square feet and built in 1973 and the 2nd is ±3,024 square feet, built in 1976
- 3 office spaces, 2 recently remodeled apartments and a storage space
- Historical occupancy has been strong in this location
- Lease renewal is now complete with the State of Nevada, which has been an anchor tenant for 20+ years in this property
- The Rural Clinics lease was renewed last year for an initial 5 year term
- 100% occupancy, with rent increases included
- 10.6% Cap Rate, making this an easy to manage and attractive investment opportunity
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