This is an income producing Investment Property ONLY.
Seven years left on current leases with both tenants.
Dimensions: 240 ft. (frontage) x 205 depth (Approximately) per seller
Property characteristics:
-Lot size: 60,845 SF
-Building: 18,000 SF
This a commercial / industrial building occupied by two tenants with long term leases already in writing:
Tenant #1: Service Kings occupies 80% of the building
Tenant #2: Ansen valve covers occupies 20% of the building
Both leases have 7 years left prior to termination on Nov/30/2023
Current net annual income:
Service king pays: $12,800 / month ($153,600 Annually)
Ansen pays: $5,000 / month ($60,000 Annually)
Annual net income: $213,600
Per landlord current annual property taxes: $26,000 and annual Insurance, CAM and utilities: $11,000 (all paid by tenants)
Note: tenants are obligated in their lease and are also responsible for paying ALL taxes, insurance, CAM charges and utilities. Landlord has no out of pocket costs or expenses.
This is an absolute net lease (per owner).
Note: The monthly lease income for Service King will increase ($5,000 / month to $17,800 on Dec/2018 and
with the addition of Ansen lease at $5,000 / month which brings the total monthly lease income to $22,800 / month, thus bringing the annual lease income to: $273,600
