GSA Leased – Single Tenant Triple Net

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Property Details

  • Price: $1,570,105
  • Transaction Type: For Sale
  • Property Type: Retail
  • Building Size: 12,430 SF
  • Lot Size: .37 AC
  • Cap Rate: 9.50%
  • Year Built: 1986
  • Zoning Description: D1 Downtown
  • Lease Term 2 years
  • Lease Type NNN

Property Description

  • GSA has taken possession and started paying rent
  • All due-diligence material is current for a quick close
  • Roof renovation & deck replacement (Duro-Last) installed this year with 15 Yr warranty
  • New high efficiency Carrier HVAC units installed thru-out building this year
  • New interior walls, paint, carpet and ceilings installed for GSA
  • Passive Investment (management performed by seller for admin fee in GSA lease)
  • High profile iconic art deco building
  • $926,000 invested in capital and tenant improvements in 2019

HMX Realty Advisors exclusively presents for sale a 12,430-sf building which has been completely renovated for the GSA. Out of the $920,000 in Capital and Tenant Improvements, GSA is contributing $362,000 in Tenant Improvements plus $180,000 for furniture, I.T. and fixtures. Landlord has spent the remaining $564,000 in Capital Improvements made in 2019 which includes a roof renovation and deck replacement with one-third of the decking replaced which carries a new 15-year Duro-Last roof warranty. Also new high-efficiency Carrier HVAC units were installed throughout. Interior walls, paint, carpet, and ceilings were installed for the GSA. All the work has been completed and GSA has commenced paying rent as of August 2019. The building occupies a prominent corner in downtown Green Bay Wisconsin. The property comes with six dedicated parking spots on the adjacent lot. All due-diligence items are current for a quick close.

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Financial Summary (Actual - )

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