672 Ridge Hill Dr
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672 Ridge Hill Dr
4,236 SF 100% Leased Office Building New Braunfels, TX 78130 $2,165,000 ($511/SF) 5.30% Cap Rate
Investment Highlights
- High-class office building excellent for a 1031 exchange, real estate investor, or owner-occupied situation
- Seller will cooperate in buying out the existing leases for Suite B and Suites A1.5, A1.7, A2, A3, and A4 if needed for owner occupy
- Priced well below replacement cost for the area
- Presently 100% occupied, $164,836 annual gross income, $114,836 Net annual income
- Location, location, location sitting in the middle of one of the fastest growing real estate markets in the country
Executive Summary
This high-class office building is excellent for a 1031 exchange, real estate investor, or owner-occupied situation. It is presently 100% occupied and generates $164,836 gross and $114,836 net annual income per year in one of the fastest-growing locations in the United States. There are four different tenants for diversification, all triple net leases. The primary tenant(Suites A1.1-A1.8, see diagram, excluding A1.5 and A1.7) has a 5-year triple net lease with built-in inflation protection. If a buyer is looking for an owner-occupied situation with the other tenants in one-year leases, the seller will cooperate in buying out the existing leases for all Suites in Suite B and Suite A1.5, A1.7, A2, A3, and A4. This property is priced well below the replacement cost for the area.
Property Facts
Sale Type
Investment NNN
Property Type
Office
Building Size
4,236 SF
Building Class
B
Year Built/Renovated
2005/2021
Price
$2,165,000
Price Per SF
$511
Cap Rate
5.30%
NOI
$114,836
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
4,236 SF
Building FAR
0.15
Land Acres
0.66 AC
Zoning
C1A
Parking
19 Spaces (4.49 Spaces per 1,000 SF Leased)
Amenities
- Conferencing Facility
- Fireplace
- Security System
- Signage
- Kitchen
- Accent Lighting
- Reception
- Central Heating
- High Ceilings
- Natural Light
- Recessed Lighting
- Hardwood Floors
- Air Conditioning
- Smoke Detector
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PROPERTY TAXES
| Parcel Number | 35-0486-0051-00 | Improvements Assessment | $630,098 |
| Land Assessment | $235,562 | Total Assessment | $865,660 |
PROPERTY TAXES
Parcel Number
35-0486-0051-00
Land Assessment
$235,562
Improvements Assessment
$630,098
Total Assessment
$865,660
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672 Ridge Hill Dr
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