Investment Sale - 3 Year Lease - 2,011 Square Foot Condo

Office for Sale
Also listed as Retail-Commercial, Special Purpose
Catylist Listing ID: 30009472
Property Subtypes: Business Park, Other
Building Size (RSF): 2,011 SF
Gross Land Area: 0.07 Acres
Sale Price: $319,000
Unit Price: $158.63 PSF
Ceiling: 12 ft.
Property Use Type: Investment, Vacant/Owner-User, Business
Class of Space: Class C
Usable Size (USF): 2,011 SF
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Last Updated: 11/6/2017

Overview / Comments

Leased Investment Property in MidTown Wilmington. This space has a tenant through September 2020.

Part of an association, this NN lease has the Tenant paying for CAM's and Insurance, and the Association Dues. Landlord is Responsible for Taxes.

This tenant has been in business in Wilmington for over 10 years and has relocated to this property.

Current Tenants

Tenant Business Name White Koi Salon
Industry Type Retail Trade
Is Renting? Yes
Annual Revenue $27,000 (Annual)
Suite Number A-2
SF of Space Occupied 2,011 SF
Current Rent $2,250 PSF (Annual)
Lease Expiration 9/0030
Escalations 3% Annual
Options one 3 year renewal
Tenant Notes Tenant executed Lease July 24th 2017 and takes possession July 29th 2017

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: WM
Tax ID/APN: 313718.30.6542.002
Zoning: CB
Property Located Between: Park and Oleander on Audubon
Property Visibility: Excellent
Highway Access: Oleander Drive / Hwy 74 is located just south of this property.
Site Description: Existing Construction
Area Description: Office Park just off major road.
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1990
Construction/Siding: Wood Frame
Parking Type: Surface
Parking Description: Common Parking
Heat Source: Other
Air Conditioning: Other
Water Service: Municipal
Sewer Type: Municipal
Legal Description: UNIT A-2 AUDUBON VILLAGE CONDOS

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,602 86,850 143,763
Median Age: 36.2 35.44 36.56
Households: 3,834 37,389 61,877
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