Office Park Investment Opportunity

Office for Sale
Catylist Listing ID: 30296275
Property Subtypes: Business Park, Medical, Office Building
Building Size (RSF): 7,000 SF
Gross Building Area: See Agent
Gross Land Area: 0.50 Acres
Sale Price: $775,000
Unit Price: $110.71 PSF
Property Use Type: Investment, Vacant/Owner-User
Building Name: Office Park Investment Opportunity
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: 9.17%
Average Occupancy Rate: 100
Last Updated: 8/7/2018

Overview / Comments

Multi Tenant Investment Property; Land: Approx. 0.5 Acre
9.167% Cap Rate; NOI $71,040
Improvements: Two Freestanding Office Buildings
Building 1 (325 Neches St.) +/- 4,000 sf, build in 2006
Building 2 (335 Neches St.) +/- 3,000 sf, build in 2008
Concrete foundation, frame construction with composition roof and brick & stone veneer
Approx. 200’ of frontage on Neches St. just east of US Hwy. 69
Highway 69 is the major north-south thoroughfare in the market area
Centrally located in downtown Jacksonville with easy access to Hwy. 69 & Hwy. 79.

Additional Details

Nearest MSA: Jacksonville
County: Cherokee
Taxing Authority: CCAD
Property Visibility: Good
Highway Access: Easy access to US 69
Site Description: Office Park
Area Description: Centrally located in downtown Jacksonville with easy access to Hwy. 69 & Hwy. 79. Highway 69 is the major north-south thoroughfare in the market area.
Total Number of Buildings: 2
Number of Stories: 1
Year Built: 2006
Roof Type: Hip
Construction/Siding: Brick
Exterior Description: Concrete foundation, frame construction with composition roof and brick & stone veneer
Parking Type: Surface
Parking Description: Ample Open Surface
Interior Description: Building 1 (325 Neches St.) +/- 4,000 sf, build in 2006 Building 2 (335 Neches St.) +/- 3,000 sf, build in 2008
Lot Frontage: Approx. 200’ of frontage on Neches St. just east of US Hwy. 69
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,016 15,552 19,188
Median Age: 30.36 31.95 33.69
Households: 679 5,321 6,659

Contact

Photograph of Listing Agent

Matthew K Marshall

Drake Real Estate & Investments GTAR Commercial Member
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