450 S Church St
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450 S Church St
4,554 SF 100% Leased Office Building Fincastle, VA 24090 $649,000 ($143/SF) 8.11% Cap Rate
Investment Highlights
- 8.11% CAP RATE!
- 2% Annual Increases
- 100% Leased Through 2026
- Newly Renovated Summer 2023
Executive Summary
Newly Renovated Summer of 2023! 4554 Square foot single tenant building located along 220 N, just outside the historic Town of Fincastle. Brick construction, built in 1998. 100% Leased to the Church of Jesus Christ of Latter Day Saints through 2026. Annual rent increases of 2% per year.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
4,554 SF
Building Class
B
Year Built
1998
Price
$649,000
Price Per SF
$143
Cap Rate
8.11%
NOI
$52,646
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
4,554 SF
Building FAR
0.10
Lot Size
1.08 AC
Zoning
B-1 - B-1 zoning permits office use, municipal use, retail stores and shops such as barber and beauty shops, personal services, financial... See above
Parking
20 Spaces (4.39 Spaces per 1,000 SF Leased)
Amenities
- Central Heating
- Natural Light
- Air Conditioning
1 of 1
PROPERTY TAXES
| Parcel Number | 73-126 | Total Assessment | $456,900 (2024) |
| Land Assessment | $108,000 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $348,900 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
73-126
Land Assessment
$108,000 (2024)
Improvements Assessment
$348,900 (2024)
Total Assessment
$456,900 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
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450 S Church St
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