32 Kingsland Rd
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32 Kingsland Rd
1,426 SF Office Building West Mersea CO5 8RA $412,851 ($290/SF) 7.20% Cap Rate
Investment Highlights
- Single Storey Building
- Freehold For Sale
- 11 Demised Car Spaces
Executive Summary
The property is let to the doctors in the West Mersea Medical Centre by way of a Full Repairing and Insuring lease for a period expiring 30th July 2027 at a passing rent of £25,000 per annum exclusive. The lease includes an upward only rent review on 31st July 2024, and an annual tenant break clause at any time on providing 12 months prior written notice.
The freehold is available at an asking price of £330,000 (Three Hundred and Thirty Thousand pounds) which reflects a net initial yield of 7.2% having regard to purchasers costs of 5.25%.
The freehold is available at an asking price of £330,000 (Three Hundred and Thirty Thousand pounds) which reflects a net initial yield of 7.2% having regard to purchasers costs of 5.25%.
Property Facts Sale Pending
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Property Subtype
Medical
Building Size
1,426 SF
Building Class
B
Year Built
1980
Price
$412,851
Price Per SF
$290
Cap Rate
7.20%
NOI
$29,725
Tenancy
Single
Building Height
1 Story
Typical Floor Size
1,620 SF
Building FAR
0.24
Lot Size
0.14 AC
Parking
11 Spaces (6.79 Spaces per 1,000 SF Leased)
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32 Kingsland Rd
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