625 Spring St 26,860 SF 100% Leased Office Building Wyomissing, PA 19610 $3,990,000 ($148.55/SF) 8.01% Cap Rate
INVESTMENT HIGHLIGHTS
- Investment Property
- Located in Wyomissing
- Long Term Tenants
- Well Maintained Property
EXECUTIVE SUMMARY
Remax Commercial is pleased to present an investment property located at 625-627 Spring Street, Wyomissing, Pennsylvania. This property includes a 22,060 square foot office/medical space and an attached 4,800 SF warehouse on 3.14 acres of land in the Borough of Wyomissing. KPS and FMC have occupied their suites since August of 1996. Recently, both Tenants have extended their leases which shows a strong commitment to the building, and the area for the last 28 + years. The treatment that Fresenius Medical Care provides would be considered an essential need, and both Tenants have a recession-proof business. The current owner would like to sell the property as a leaseback sale.
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PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
Sale Leaseback
Property Type
Office
Property Subtype
Medical
Building Size
26,860 SF
Building Class
B
Year Built/Renovated
1975/1996
Price
$3,990,000
Price Per SF
$148.55
Cap Rate
8.01%
NOI
$319,512
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
11,030 SF
Building FAR
0.20
Lot Size
3.15 AC
Zoning
C-2 - Commercial zoning district that allows for a variety of businesses and services within a convenient central location to the community
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $968,000 | |
| Land Assessment | $337,300 | Total Assessment | $1,305,300 |
