
Capital Residential Realty
199 E. Montgomery Ave., Suite 100, Rockville, MD 20850
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2026307653924 RUSSELL DRLebanon, PA 17042ActiveSave
-1BD
-1BA
-1SqFt
UPDATED
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Lot Size 1.000 Acres
Year Built 1995
MLS Listing ID PALN114630
Subdivision Tuck Business Park
Total Units 1
Short Sale No
HOA Y/N N
Originating MLS BRIGHT
Property Description
Excellent opportunity to own a Modern Office building in a desirable Business Park with Social Security as Tenant. Built specifically for Social Security occupancy. Single tenant, monthly rent automatically deposited. Rent increased 5-23-20. Tenant just signed a 5 yr. extension. Scheduled rent increases 21.74% during the extension period (an average of just over 4% per year). Current net operating income of $65,579 is a 7.09% Cap Rate. Annual Real Estate Tax Escalator, Annual CPI adjustment for operating costs. Operating expenses listed are an average of 2015 thru 2019 actual expenses. A purchase at the listed price plus estimated acquisition costs, with projected net income based on scheduled rents, and assuming a $1,125,000 sale price at the end of the extension generates a 10.17% Internal Rate of Return, Owner has relocated out of state and is looking to exchange into and investment in that location.
Location
State PA
County Lebanon
Area North Cornwall Twp (13226)
Zoning O-I
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling Central A/C
Flooring Carpet,Ceramic Tile,Concrete,Vinyl
Heat Source Natural Gas
Exterior
Garage Spaces 33.0
Waterfront N
Water Access N
Roof Type Pitched,Shingle
Street Surface Black Top
Accessibility 32\"+ wide Doors,48\"+ Halls,Level Entry - Main,No Stairs,Accessible Switches/Outlets
Road Frontage Boro/Township
Parking Type Parking Lot
Total Parking Spaces 33
Garage N
Building
Lot Description Corner
Foundation Slab
Lot Dimensions 361x249x240
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Cornwall-Lebanon
Others
Tax Amount $18,801
Tax Year 2021
Tax ID 26-2339277-360670-0000
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash,Conventional
Special Sale Standard
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Listing provided by Suburban Realty
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