FOR SALE

Perfect 1031 exchange property! 

Asking price: $4.75MM

 

Location:

 

Heart of Williamsburg, 1 block away from waterfront, trendy and actively developing

 

Description:

 

10,000sf, 1story office building and additional 10,000sf buildable air rights for the second floor offices.

 

Building details: 

 

Lot is 125x100, built 100x100

Zoning M1-2

Building Class F4

 

Modern brick structure was built in 2001, and originally designed to be a hotel lobby, featuring 19ft high ceilings, extra large windows, open interior space, central HVAC, etc

 

Tenants & Leases:

 

  1. Government office will be occupying 7500sf with a 10 year NNN lease commencing January 1, 2007

 

  1. Medical office is occupying 2500sf with a 6 years remaining on the NNN lease                                     

 

Expenses:

 

Real Estate Taxes  $14,200/ year, are paid by the tenants including all utilities and all if any increases

 

NOI:

 

 $280,000/year