Listed by Capacity Commercial Group
$3,010,000
The Historic Vance Land Company Warehouse
Details
APN R129002
Property Type Office, Industrial
Sub Type Creative Office, Maker Space
Square Footage 21,935
Net Rentable (SqFt) 21,935
Cap Rate 7.50%
NOI $225,725
Occupancy 77%
Tenancy Multi
Lease Type NNN
Price per SqFt $137
Class B
Year Built 1913
Year Renovated 2018
Stories 4
Acreage 0.110
Zoning CM2 - Commercial
Ground Lease No
21,935 RSF Office Investment Opportunity | 7.5% CAP
Marketing description
Multi-Tenant Office Building Investment Opportunity
Renovations Completed in 2018 | CM2 Zoning
Sale Price: $3,010,000 ($137/SF)
CAP Rate: 7.5%
Gross Land Area: 5,000 SF (0.11 AC)
Rentable SF: 21,935 SF
Investment highlights
- Short term leases allow for buyer to capture upside in a changing market
- Building is a mix of maker and studio space
- Significant Capex and renovations completed by current ownership
- Close-in location but outside the CBD
- Irreplaceable character building with historic designation. Upper spaces feature plentiful natural light
- Building is served by freight elevator which is compatible with the maker use
Listing Contacts
Listed by Capacity Commercial Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$225,725.00
$18,810.42/mo
Valuation Metrics
0
DSCR
7.5%
Cap Rate
7.5%
ROI
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