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924 Russell Drive

LEBANON, PA 17042
  • $850,000
  • STATUS: Active
  • ON SITE: 870 Days
  • ID#: PALN114630
UPDATED: 147 min ago
$850,000
  • 0
    BEDS
  • 1
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1995
County:

School Ratings & Info

School District:

Description

Excellent opportunity to own, lease or occupy a Modern Office building in a desirable Business Park. Social Security is the current tenant, but is expected to vacate the building within the next 6 to 12 months. The building will then be available for a new tenant or owner/occupant. Current projected net operating income of $75,981 is an 8.94% Cap Rate for existing Social Security Gross Lease. When Social Security vacates, leasing at a conservative estimated Triple Net Market Rent ($17/sf) projects a Net Operating Income of $94,860 ; and increases cap rate to 11.16% at the listed price. A Net projected operating statement for post SSA occupancy has been uploaded under documents icon, Owner has retired and relocated out of state and is looking to exchange into an investment in that location.

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©2022 Bright MLS, All Rights Reserved. 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 consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Liz Hamberger Real Estate Team of KW Keystone Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-12-01T23:50:41.967.
www.pahousesale.com/homes/107848861
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924 Russell Drive LEBANON, PA 17042

  • Price: $850,000
  • Status: Active
  • On Site: 870 Days
  • Updated: 147 min ago
  • ID#: PALN114630
0
Beds
0
Baths
0
½ Baths
1
Acres
1995
Built
Neighborhood:
Tuck Business Park
County:
Lebanon
Area:
North Cornwall Twp (13226)
School District:
Cornwall-Lebanon
Property Description
Excellent opportunity to own, lease or occupy a Modern Office building in a desirable Business Park. Social Security is the current tenant, but is expected to vacate the building within the next 6 to 12 months. The building will then be available for a new tenant or owner/occupant. Current projected net operating income of $75,981 is an 8.94% Cap Rate for existing Social Security Gross Lease. When Social Security vacates, leasing at a conservative estimated Triple Net Market Rent ($17/sf) projects a Net Operating Income of $94,860 ; and increases cap rate to 11.16% at the listed price. A Net projected operating statement for post SSA occupancy has been uploaded under documents icon, Owner has retired and relocated out of state and is looking to exchange into an investment in that location.
Exterior Features

Construction Materials Brick VeneerDryvitStone Door Features Double Entry Garage YN No Location Type Business Park Lot Features Corner Parking Features Handicap ParkingLighted ParkingPaved Parking Parking Types Parking Lot Property Condition Excellent Riparian Rights YN No Road Responsibility Boro/Township Road Surface Type Black Top Roof PitchedShingle Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 6218.00 Cooling Central A/C Flooring CarpetCeramic TileConcreteVinyl Heating Forced Air Heating YN Yes Net Square Feet 6200.00

Property Features

Acceptable Financing CashConventional Accessibility Features 32"+ Wide Doors48"+ HallsLevel Entry - MainNo StairsAccessible Switches/Outlets Assessment Year 2021 Association YN No Business Type Professional Central Air YN Yes Cooling Fuel Electric Cross Street Isabel Drive Electric 200+ Amp Service3 PhasesCircuit Breakers Entry Level 1 Foundation Details Slab Gross Income 137524.00 Heating Fuel Natural Gas Hot Water Natural Gas Municipality North Cornwall Twp Navigable Water YN N Net Operating Income 75981.00 New Construction YN No Number Of Units Total 1 Operating Expense 42715.00 Operating Expense Includes ElectricHeating/CoolingInsuranceLandscapingManagement FeesPest ControlRepair/MaintenanceSewerSnow RemovalTrashWater Original MLSNumber 304200253393 Owner Pays All Utilities Ownership Interest Fee Simple Possession SettlementSubject To Existing Lease Property Sub Type Office Sale Type Standard Sewer Public Sewer Tax Annual Amount 19213.00 Tax Assessment Amount 907000.00 Vacation Rental YN No Water Source Public Year Built Effective 2006 Zoning O-I Zoning Description Office Institutional

Listing courtesy of Suburban Realty: .


©2022 Bright MLS, All Rights Reserved. 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 consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Liz Hamberger Real Estate Team of KW Keystone Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-12-01T23:50:41.967.
 
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Liz Hamberger Real Estate Team of KW Keystone Realty
1620 S. Queen St.
York PA, 17403