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3444 S Congress Avenue

Palm Springs, FL 33461
  • $1,800,000
  • STATUS: Active Under Contract
  • ON SITE: 164 Days
  • ID#: RX-10780119
Under Contract
UPDATED: 32 min ago
$1,800,000
  • 0
    BEDS
  • 0.75
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 8,169
    SQFT
  • $220
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1977
County:
Area:

School Ratings & Info

Description

Free standing single story office building with well established tenant in place. Buyer MUST be willing to buy with the current tenant in place until November 2026. Tenant has option for 2 additional 5 year terms. Being sold with tenant in place on 5 year NNN leases at $120k/year. 3% rent escalation per year. Tenant pays ALL expenses, capital expenditures, taxes, and insurance. 6% estimated CAP rate going up as rent escalation goes up. Showings need to be scheduled around tenants.

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www.ivaniahomes.net/homes/126209667
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3444 S Congress Avenue Palm Springs, FL 33461

  • Price: $1,800,000
  • Status: Active Under Contract
  • On Site: 164 Days
  • Updated: 32 min ago
  • ID#: RX-10780119
0
Beds
0
Baths
0
½ Baths
0.75
Acres
8,169
SQFT
$220
$/SQFT
1977
Built
Neighborhood:
Model Land Co
County:
Palm Beach
Area:
Palm Springs
Property Description
Free standing single story office building with well established tenant in place. Buyer MUST be willing to buy with the current tenant in place until November 2026. Tenant has option for 2 additional 5 year terms. Being sold with tenant in place on 5 year NNN leases at $120k/year. 3% rent escalation per year. Tenant pays ALL expenses, capital expenditures, taxes, and insurance. 6% estimated CAP rate going up as rent escalation goes up. Showings need to be scheduled around tenants.
Exterior Features

Construction Cbs Roof Built-UpTar/Gravel

Interior Features

Bath Toilets 6.00 Ceiling Suspended Cooling Central Flooring Other Heating Central Percent Air Conditioned 100.00

Property Features

Auction No Available Docs None Available Info Copies Of Lease Contingent Active Under Contract Contingents Inspection Fire Protection None For Lease No For Sale Yes Lease Long TermSubject To Lease List Office Board Code Realtor Association Of The Palm Beaches (Rapb) Meters 8.00 Possession Subject To Lease Sale Includes Building And Land Tax Amount Real Estate Taxes 19543.60 Tax Year 2021 Tenant Pays Common Area Maint.InsuranceJanitorialTaxes Terms Considered Cash Type Of Building Free StandingMedicalOffice Space Use Professional Office Utilities CableElectricPublic SewerPublic WaterSeparate Meter Zoning Cg(Cit

Listing provided courtesy of Coastal Real Estate Co. Listing information © 2022 BeachesMLS
 
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