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517 W Broad Ave 3,997 SF 100% Leased Office Building Albany, GA 31701 $550,000 ($137.60/SF) 7.64% Cap Rate
Executive Summary
OPPORTUNITY ZONE INCOME PRODUCER… this property is located in the Opportunity Zone and offered at a 7.64% CAP Rate! Monthly net income of $3,500 with a 5 year lease. Tenant is an established law firm with 16 years in practice. Tenant is responsible for all maintenance and the first $500 dollars of any HVAC, Electrical, or Plumbing repairs. The roof was replaced in 2018 on the main structure and 2016 on the secondary structure. This is a triple net lease with the tenant paying taxes, insurance and maintaining the property within the $500 deductible limits previously described.
Property Facts
Sale Type
Investment
Sale Condition
Sale Leaseback
Property Type
Office
Building Size
3,997 SF
Building Class
B
Year Built/Renovated
1908/2016
Price
$550,000
Price Per SF
$137.60
Cap Rate
7.64%
NOI
$42,000
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
1,998 SF
Building FAR
0.18
Lot Size
0.51 AC
Opportunity Zone
Yes
Zoning
C - Commercial
Parking
20 Spaces (5 Spaces per 1,000 SF Leased)
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 000AA-00006-007 | Improvements Assessment | $57,800 |
| Land Assessment | $19,200 | Total Assessment | $77,000 |
Property Taxes
Parcel Number
000AA-00006-007
Land Assessment
$19,200
Improvements Assessment
$57,800
Total Assessment
$77,000
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517 W Broad Ave
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