2305 Lakeland Dr
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2305 Lakeland Dr
30,000 SF 100% Leased Office Building Flowood, MS 39232 $3,310,000 ($110/SF) 11.17% Cap Rate
Investment Highlights
- 30,000 SF Building
- Ample Parking
- 51,000 VPD on Lakeland Dr.
- 2.74 Acres
- Excellent Location - Lakeland Drive Frontage
- Renovated - New Light Fixtures, Flooring, Windows & Complete Restroom Renovations
Executive Summary
New 30-Month Lease in place with high-credit tenant, priced aggressively due to short-term lease. This is most likely a re-tenant play after the current tenant vacates in 30 months, with the opportunity to convert to a Class A office building (see renderings).
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
30,000 SF
Building Class
B
Year Built
1987
Price
$3,310,000
Price Per SF
$110
Cap Rate
11.17%
NOI
$369,817
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
15,000 SF
Building FAR
0.25
Lot Size
2.74 AC
Zoning
C-3 - General Commercial
Parking
220 Spaces (7.33 Spaces per 1,000 SF Leased)
Amenities
- Signage
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PROPERTY TAXES
| Parcel Number | E10K-000001-00010 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $509,835 |
PROPERTY TAXES
Parcel Number
E10K-000001-00010
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$509,835
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2305 Lakeland Dr
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