Description
110 Springhill Drive units 1 and 2 are comprised of approximately 3000 sf of 2 story office and 2550 sf of warehouse. The property is currently leased to Dignity Health who uses the facility as a mission-critical ambulatory staging/rest area. Dignity has had a long tenancy at the property and has recently extended their lease for an additional 3 years. The in-place rent of the tenant is approximate 23% below market, allowing an investor the ability to significantly increase the cash yield upon Dignity's lease termination. The in-place cap rate is approximately 4.00% and the lease features annual increases. the offering represents great opportunity for an investor to acquire a bite-sized light industrial investment occupied by an investment grade tenant (S%P BBB). Alternatively, the project represents an equally attractive opportunity for an owner-user to buy now and cashflow until Dignity's lease terminates. The property is in a well maintained industrial condo park, OA fees are currently $.26/SF/quarter. The roof was replaced approximately 2 years ago and the OA fees do include a repayment for the roof, OA fees will decrease once the roof is paid off.
Location
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4 Beds
3 Baths
3,063 Sq ft
$19,995,500
MLS# MTR222051609
ACTIVE
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Data maintained by MetroList® may not reflect all real estate activity in the market. All information has been provided by seller/other sources and has not been verified by broker. All measurements and all calculations of area (i.e., Sq Ft and Acreage) are approximate. All interested persons should independently verify the accuracy of all information. All real estate advertising placed by anyone through this service for real properties in the United States is subject to the US Federal Fair Housing Act of 1968, as amended, which makes it illegal to advertise "any preference, limitation or discrimination because of race, color, religion, sex, handicap, family status or national origin or an intention to make any such preference, limitation or discrimination." This service will not knowingly accept any advertisement for real estate which is in violation of the law. Our readers are hereby informed that all dwellings, under the jurisdiction of U.S. Federal regulations, advertised in this service are available on an equal opportunity basis. Updated: 26th March, 2023 5:26 AM (UTC)
Data maintained by MetroList® may not reflect all real estate activity in the market. All information has been provided by seller/other sources and has not been verified by broker. All measurements and all calculations of area (i.e., Sq Ft and Acreage) are approximate. All interested persons should independently verify the accuracy of all information. All real estate advertising placed by anyone through this service for real properties in the United States is subject to the US Federal Fair Housing Act of 1968, as amended, which makes it illegal to advertise "any preference, limitation or discrimination because of race, color, religion, sex, handicap, family status or national origin or an intention to make any such preference, limitation or discrimination." This service will not knowingly accept any advertisement for real estate which is in violation of the law. Our readers are hereby informed that all dwellings, under the jurisdiction of U.S. Federal regulations, advertised in this service are available on an equal opportunity basis. Updated: 26th March, 2023 5:26 AM (UTC)
Listing Agent: Tyson Tucker
Listing Office: Coldwell Banker Commercial Grass Roots Realty
