www.pahousesale.com/homes/77981818
924
Russell Drive
LEBANON,
PA
17042
Neighborhood:
Tuck Business Park
Area:
North Cornwall Twp (13226)
School District:
Cornwall-Lebanon
Excellent opportunity to own a Modern Office building with long term, Federal Govt. Agency Tenant. Built specifically for local Social Security Office occupancy. Single tenant, Monthly Rent automatically deposited. Three years remaining on current renewal option. Current net of $50,628 is a 6.37% cap Rate. Gross Rent increases $5,400. at start of 4th year, boosting the Cap Rate to 7.05% for years 4 & 5. Annual tax escalator, and operating cost adjustments. Seller has retired, relocated to Virginia and plans to exchange into a residential rental there. Operating Expenses listed are an average of 2013 thru 2017 actual expenses.
Construction Materials
MasonryBrickDryvit
Garage YN
No
Location Type
Corner Lot/Unit
Lot Features
Road Frontage
Parking Total
33.00
Parking Types
Parking Lot
Riparian Rights YN
No
Road Responsibility
Boro/Township
Road Surface Type
Black Top
Roof
PitchedShingle
Topography List
Level
Water Access YN
No
Water Oriented YN
No
Waterfront YN
No
Building Area Total
6218.00
Building Features
Private RestroomsPublic Restrooms
Cooling
Central A/C
Cooling YN
Yes
Fireplace YN
No
Flooring
CarpetCeramic TileVinyl
Heating
Forced Air
Heating YN
Yes
Net Square Feet
5400.00
Acceptable Financing
CashConventional
Accessibility Features
Other
Assessment Year
2018
Association Fee Includes
Other
Association YN
No
Business Type
Professional/Office
Central Air YN
Yes
Condo YN
No
Cooling Fuel
Electric
Current Use
Office
Electric
110 Volts200+ Amp Service
Foundation Details
Slab
Gross Income
106812.00
Heating Fuel
Natural Gas
Hot Water
Natural Gas
Incorporated City Name
N. Cornwall Twp
Navigable Water YN
N
Net Operating Income
50628.00
New Construction YN
No
Number Of Units Leased
1
Operating Expense
38504.00
Original MLSNumber
20170405120342692095000000:LCR
Ownership Interest
Fee Simple
Possession
SettlementSubject To Existing Lease
Property Sub Type
Office
Sale Type
Standard
Sewer
Public Sewer
Tax Annual Amount
18008.0
Tax Assessment Amount
907000.0
Vacation Rental YN
No
Water Source
Public
Year Built Effective
2006
Zoning
Office-Institutional
Zoning Description
Office
Listing courtesy of Suburban Realty.
©2018 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. 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: 2018-11-18T21:54:45.047.
