Income Producing Office Condo or Owner/User

$365,000

Commercial investment opportunity (or for an owner/user)! Current tenant will sign a new lease at closing for 5 years at $14 per square foot, net, with 3% annual base rent increases, generating a 7% CAP Rate at the asking price. The subject property is, per Lee County appraiser, an 1826 SF “Flex” condo (condo docs show it as 1906 SF). Most of the space is built out as office but it still has a small warehouse in the rear with a roll up door (see floor plan) for storage. Tenant is Atilus, a web design, web development and digital marketing company (www.atilus.com). They have occupied the property since June of 2016. If desired, tenant will vacate for an owner/user.

Property Details

  • $365,000
  • Size: 1826 SF
  • Rental Rate: $14 psf, net = 7% CAP Rate
  • 3% annual base rent increases
  • 5-year lease signed at closing
  • Tenant will also vacate at closing for an owner/user

Property Amenities

  • 1826 SF office condo with small warehouse
  • Sale/Lease-back or tenant will vacate for an owner/user
  • 7% CAP rate at the asking price
  • New 5-year net lease at closing
  • Lease will feature 3% annual base rent increases
  • Existing tenant since June, 2016

Floor Plans

Property Location