924 Russell Drive

    LEBANON, PA 17042
    • $795,000
    • STATUS: Active
    • ON SITE: 333 days
    • ID#: 1002664507
    UPDATED: 209 min ago
    $795,000
    • 0
      BEDS
    • 1
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Tuck Business Park
    Type:
    Commercial
    Built:
    1995
    County:
    Lebanon
    Area:
    North Cornwall Twp (13226)

    School Ratings & Info

    School District:
    Cornwall-Lebanon
    Visit GreatSchools.org

    Description

    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.

    Monthly Payment Calculator

    ©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. Data last updated: 2018-09-20T07:48:11.17.
    www.pahousesale.com/homes/77981818

    924 Russell Drive LEBANON, PA 17042

    • Price: $795,000
    • Status: Active
    • Updated: 209 min ago
    • ID#: 1002664507
    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 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.
    Exterior Features

    Construction Materials MasonryBrickDryvit Garage YN No Location Type Corner Lot/Unit Lot Features Road Frontage Parking Total 33.00 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

    Interior Features

    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

    Property Features

    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 Construction Completed 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. Data last updated: 2018-09-20T07:48:11.17.
     
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