Local Sale Lease Back Opportunity: 12% CAP, Triple Net, Governmental Sub-Tenant!
Greg Mahalick
Good afternoon to all! Thanks again for stopping by CREGR.com; as promised above, a local investment opportunity that stands to perform very well!
First and foremost, I will not get specific on address (or business name/names)- this is not a confidential opportunity but out of respect for my client I simply ask that if you would like additional details that you contact me for the full marketing package.
This opportunity in located within Wyoming, MI. Roughly 20,000 SF of office space with a sub-tenant occupying 3,700SF (100% occupied/owner occupies all else) sub-tenant is extremely vested into current space, governmental orientation, 3% annual bumps, with two five year renewal periods remaining.
Current owner possesses very strong business, willing to sign a five year lease back with 2.5% annual bumps, full triple net (including sub-tenant), with land contract terms available!
Purchase Price: $1,075,000.00
CAP Rate: 12%
NOI: $129,000.00
Total SF: 20,000SF
Occupancy: 100%
Marketing Package Includes: Premise address with interior/exterior photos; full sub-tenant summary, full triple net breakdown (semi-annual & annual), rent roll, & business bios. Call or email Greg Mahalick or Chip LaFleur today for your full marketing package and additional details! Office line: (616) 459-8000.
