Description
Two story, multiple tenant professional office building with 22,428 sf located in the City of Utica. Major cashflow at at 11.28% Cap Rate and 17% cash on cash return. No fuss long term tenants and can easily be managed remotely from long distances. This is a 40-45 year old building consisting of Class B quality construction. Tenant size range is 250 to 4,650 sf. Total net rentable square footage is 18,050 sf with currently 3500 sq/ft vacant. There are 13 tenant suites with an average size of 1,388 sf. Most tenants are long term with annual leases. The owner has made significant improvements and property upgrades since purchase in 2012 including more than $350k on capital improvements including new roof, Chiller/HVAC, complete window and door, exterior renovations and electrical upgrades.
-
0BEDS
-
N/AACRES
-
0BATHS
-
01/2 BATHS
-
22,428SQFT
-
$25$/SQFT
School Ratings & Info
Description
Two story, multiple tenant professional office building with 22,428 sf located in the City of Utica. Major cashflow at at 11.28% Cap Rate and 17% cash on cash return. No fuss long term tenants and can easily be managed remotely from long distances. This is a 40-45 year old building consisting of Class B quality construction. Tenant size range is 250 to 4,650 sf. Total net rentable square footage is 18,050 sf with currently 3500 sq/ft vacant. There are 13 tenant suites with an average size of 1,388 sf. Most tenants are long term with annual leases. The owner has made significant improvements and property upgrades since purchase in 2012 including more than $350k on capital improvements including new roof, Chiller/HVAC, complete window and door, exterior renovations and electrical upgrades.
© 2021 Global Multiple Listing Service, Inc. The data relating to real estate on this website comes in part from the Internet Data Exchange program of the GMLS. All information is deemed reliable but not guaranteed and should be independently verified. All properties subject to prior sale, change, or withdrawal. Neither listing broker(s), GMLS shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing. Data last updated 2021-03-04T09:12:37.09.