Listed by Alton Webb & Associates
$330,000
State Office Lease in New Castle, KY
Details
APN 028-30-04-001.00
Property Type Office
Sub Type Traditional Office
Square Footage 2,457
Net Rentable (SqFt) 2,457
Units 2
Cap Rate 8.67%
NOI $28,600
Occupancy 100%
Tenancy Single
Lease Type Gross
Lease Term 1
Lease Expiration 06/30/2030
Remaining Term 4
Rent Bumps No
Lease Options 4
Price per SqFt $134
Class C
Buildings 1
Stories 1
Acreage 0.256
Zoning Commercial
Parking Spaces 11 spaces
Parking per 1,000 SqFt 4.48
Investment Type Stabilized
Tenant Credit Credit Rated
Lease Commencement 06/30/2000
Ceiling Height 9'
Office | 8.67% CAP | 2,457 SqFt
Marketing description
This Government Office Building in New Castle, KY offers a stabilized investment with a contract that generates a gross annual income of $30,100.00. The current lease rate is below market value.
Investment highlights
- Price: $330,000.00
- Price/SF: $134.31/SF
- Rent Rate: $12.25/SF
- Annual Rent: $30,100@2457SF
- Cap Rate: 8.5%
- Tenant: Cabinet for Health and Family Services
- SQ FT: Leased 2457
- Lease Term: Annual Through June 30, 2030
- Parking: 11 Spaces
- Landlord Responsibility: Mowing, Snow/Ice Removal, Taxes, Insurance
Listing Contacts
Listed by Alton Webb & Associates
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$28,600.00
$2,383.33/mo
Valuation Metrics
0
DSCR
8.67%
Cap Rate
8.67%
ROI
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