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Leased to Regional Medical tenant in year 2 of 12 – strong NNN leases in place. New HVAC Units, New Sprinkler & Fire Alarm, Back-up Generator. • 10,090 SF • Located < 1 mile south of North Oak Hospital in Hammond • 88% Occupied medical office • $144,367 NOI • 8.25% CAP (actual) - 9.25% CAP (proforma) • Reduced from $1,890,000 to $1,750,000
Completely Renovated Interior, Additional 2,000 SF Expansion Completed June 2013, New Fire Alarm & Fire Sprinkler Systems, New 36 KW Back-up Generator, New HVAC Units, Updated ADA Access Ramp & Bathrooms, New Monument Sign, Tenant Maintains Interior, Separate Utility Meters, New Gas Service, Public Sewer & Water
1,250 SF is vacant, which provides for up-side potential. Easily able to raise CAP.
Property to be sold "As-Is, Where-Is, with full waiver of redhibition and warranty of title being limited to Seller's acts during Seller's ownership. - Number of buildings: 2 - Class of space: Class B - Tenancy: Multiple Tenants
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On average, listings lease in the $10's per square foot per year. The Hammond submarket is going through a a boost in rates. In the last 3 months, the median rate increased $16 per sqft per year. That's a Inf% increase in rent.
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