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1623 Rivery Blvd 3,000 SF 100% Leased Office Building Georgetown, TX 78628 $1,485,000 ($495/SF) 6.40% Cap Rate
Investment Highlights
- Close proximity to I-35
Executive Summary
• Free standing 3,071 sq ft building on Rivery Blvd
• Fantastic location with the Rivery Development and Williams Drive
• Sale Lease Back:
• Tenant: Republic Spine and Pain
• RSP started business in 2010
• Lease originated: 1/1/22
• Lease expiration: 1/31/36
• Base rent starting 1/1/26: $7878.56 plus NNN
• 3% annual increases in base rent
• Landlord responsible for roof, structure and parking lot
• Fantastic location with the Rivery Development and Williams Drive
• Sale Lease Back:
• Tenant: Republic Spine and Pain
• RSP started business in 2010
• Lease originated: 1/1/22
• Lease expiration: 1/31/36
• Base rent starting 1/1/26: $7878.56 plus NNN
• 3% annual increases in base rent
• Landlord responsible for roof, structure and parking lot
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
3,000 SF
Building Class
B
Year Built/Renovated
1960/2010
Price
$1,485,000
Price Per SF
$495
Cap Rate
6.40%
NOI
$95,040
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
1,527 SF
Slab To Slab
10’
Building FAR
0.16
Lot Size
0.44 AC
Zoning
C-1
Parking
19 Spaces (6.33 Spaces per 1,000 SF Leased)
Amenities
- Conferencing Facility
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Property Taxes
| Parcel Number | R504515 | Improvements Assessment | $581,985 |
| Land Assessment | $311,868 | Total Assessment | $893,853 |
Property Taxes
Parcel Number
R504515
Land Assessment
$311,868
Improvements Assessment
$581,985
Total Assessment
$893,853
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1623 Rivery Blvd
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