714 N Bethlehem Pike
Lower Gwynedd, PA 19002
714-768 N Bethlehem Pike · Coworking Space Property For Lease

Totally Stabilized, multi-tenant Class B office complex for sale in Lower Gwynedd, PA being offered starting at a low to mid 8% CAP rate that can be aggressive. The current stabilized occupancy at this complex is 98%. Excellent demographics include a population of 47,086 within a 3 mile radius and a $159,238 average household income. This unique real estate investment asset has been totally upgraded within the last year with many capital improvements. Current management, has renewed all existing leases and negotiated all new leases on multiple year terms with annual increases in every lease. Lease rates are at the lowest end of the market providing the investor with potential upside upon future renewals. Management is in place and has created a stable asset with very little responsibilities for the new owner and management is willing to stay on as manager for the new purchaser, knowing all of the systems inside and out. Included in the sale are three office buildings with shared parking and amenities. Each of the three buildings is comprised of 16,809 SF per building and all three are fully occupied with the exception of one building which has 896 SF of rentable vacant space. Each building is a separate tax parcel providing the new owner the option to sell separately if desired. Great mix of professional tenants at the property including several attorneys, accounting firms, medical and other tenants. (Call broker for actual current rent roll) All tenants have multiple-year leases ranging from 3-10 years, with a current annual gross operating income of just over $878,344.