FOR SALE - LoopNet€¦ · READ & CO., REALTORS . INVESTMENT . . Pyramid Medical Center 2015 ....
8
PRIME INVESTMENT OPPORTUNITY READ & CO., REALTORS Rick Read, Broker Ricky Read, CCIM Luke Dykeman 434-455-3618 434-841-3659 434-944-3920 [email protected] [email protected] [email protected] PREPARED BY: www.CBCREAD.com FOR SALE 22,000 Sq. Ft. ± 1.1 Acres ± 313,317 & 407 Federal St. Lynchburg, VA 24504 READ & CO., REALTORS Office: 434-455-2285 101 Annjo Court Forest, VA 24551
Transcript of FOR SALE - LoopNet€¦ · READ & CO., REALTORS . INVESTMENT . . Pyramid Medical Center 2015 ....
PRIME INVESTMENT OPPORTUNITY
READ & CO., REALTORS
Rick Read, Broker Ricky Read, CCIM Luke Dykeman 434-455-3618 434-841-3659 434-944-3920 [email protected] [email protected] [email protected]
PREPARED BY:
www.CBCREAD.com
FOR SALE22,000 Sq. Ft. ± 1.1 Acres ± 313,317 & 407 Federal St. Lynchburg, VA 24504
READ & CO., REALTORS
Office: 434-455-2285 101 Annjo Court Forest, VA 24551
READ & CO., REALTORS INVESTMENT
www.CBCREAD.com
EXECUTIVE SUMMARY
• Two Tenant Office Building
• Occupied by Centra Health, Inc. & Johnson Health Center
• 15 Year original lease terms expiring Fall 2023
• Located in Downtown Lynchburg, VA near 5th St. Roundabout
• New clinic under construction next door
• New Family Dollar located on adjacent site
Building size: Building Age: Lot size: Zoning: Utilities: GOI: Expenses: NOI: Price:
22,000 Sq. Ft. ± total Original building – 1937, Total renovation - 2008 1.1 Acres ± B-4 Lynchburg City - Water, Sewer $340,117 $64,646 $275,471 $2,900,000
CAP Rate: 9.5%
Features:
PROPERTY OVERVIEW
PYRAMID MEDICAL CENTER
READ & CO., REALTORS INVESTMENT
www.CBCREAD.com
Floor Plan/Building Layout
All dimensions and square footages are approximate. Purchaser or Tenant is responsible for verifying the accuracy of this information. All information is subject to change or withdrawal without notice.
READ & CO., REALTORS INVESTMENT
www.CBCREAD.com
Pyramid Medical Center 2015
Income & Expense Statement
Income:
Rent: Centra Health, Inc.* $175,652 Johnson Health Center* $154,152
Gross Operating Income $329,804
Expenses:
Real Estate Taxes $19,553 Insurance $13,010 Maintenance $13,671 Management (3%) $9,894 Reserve $6,000 Miscellaneous (budget) $2,400 Total Expenses: ($64,528)
Net Operating Income: $265,276
*Rents increase 3% annually
READ & CO., REALTORS INVESTMENT
www.CBCREAD.com
Pyramid Medical Center 2016
Income & Expense Statement
Income:
Rent: Centra Health, Inc.* $180,948 Johnson Health Center* $159,169
Gross Operating Income $340,117
Expenses:
Real Estate Taxes $19,032 Insurance $13,010 Maintenance $14,000 Management (3%) $10,204 Reserve $6,000 Miscellaneous (budget) $2,400 Total Expenses: ($64,646)
Net Operating Income: $275,471
*Rents increase 3% annually
READ & CO., REALTORS INVESTMENT
www.CBCREAD.com
AERIAL
FEDERAL STREETFIFTH STREET
READ & CO., REALTORS INVESTMENT
www.CBCREAD.com
CONTACT INFORMATION
For more information, please contact:
Rick Read, Broker COLDWELL BANKER COMMERCIAL Read & Co., Realtors 101 Annjo Court Forest, VA 24551
Phone: (434) 455-3618 Fax: (434) 847-7746 Mobile: (434) 841-1642 [email protected]
© 2015 Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. Coldwell Banker Commercial Read & Co. represent the Seller/Landlord of this property. Upon receipt of this information, Purchaser/Tenant acknowledges Coldwell Banker Commercial Read & Co.'s fiduciary responsibilities are to the Seller/Landlord.
LOCATION MAP
Ricky Read, CCIM COLDWELL BANKER COMMERCIAL Read & Co., Realtors 101 Annjo Court Forest, VA 24551
Phone: (434) 455-2285 ext. 101 Fax: (434) 847-7746 Mobile: (434) 841-3659 [email protected]
Luke Dykeman COLDWELL BANKER COMMERCIAL Read & Co., Realtors 101 Annjo Court Forest, VA 24551
Phone: (434) 455-2285 ext. 107 Fax: (434) 847-7746 Mobile: (434) 944-3920 [email protected]
