Cash Flow Investment

Office for Sale
Catylist Listing ID: 30204453
Property Subtypes: Office Building
Building Size (RSF): 2,400 SF
Gross Building Area: See Agent
Sale Price: $275,000
Unit Price: $114.58 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Amerilife
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: 8.61%
Average Occupancy Rate: 100
Last Updated: 4/18/2018

Overview / Comments

This is a free-standing building on a corner parcel along US Hwy 19 - the main north-south commercial corridor in west Pasco County.
The building is in very good condition and is net-leased to a credit tenant with approximately 3.5 years remaining on the current lease term.

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $3,112 (Annual)
Assessed Value - Total($) $188,543 (Annual)
Net Operating Income $23,689 (Annual)
Actual or Proforma Year Actual

Current Tenants

Tenant Business Name Amerilife & Health Services of West Pasco
Website URL https://amerilife.com/
Industry Type Finance and Insurance
Is Renting? Yes
SF of Space Occupied 2,400 SF
Current Rent $10 PSF (Annual)
Escalations 2.5% annual on October 1st.

Additional Details

Nearest MSA: Tampa-St. Petersburg-Clearwater
County: Pasco
Taxing Authority: Pasco County
Tax ID/APN: 1625100070000000190
Zoning: C2
Property Visibility: Excellent
Highway Access: US Hwy 19 frontage.
Site Description: Fully improved commercial corner.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 2,400 SF
Year Built: 1979
Year Renovated: 2008
Roof Type: Hip
Construction/Siding: Block
Parking Ratio: 8.3 (per 1000 SF)
Parking Type: Surface
Parking Description: Recently resurfaced paved parking lot.
Total Parking Spaces: 20
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Interior Description: Currently built-out for office use with nice entry, some private offices, conference rooms, kitchen and large bullpen space. Building is ADA compliant.
Zoning Description: C2 general commercial.
Lot Frontage: 90 ft on US 19 and 184 ft on Seward
Lot Depth: 90 ft x 184 ft
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: MT PASCO MANAGEMENT LLC
Legal Description: BROWN ACRES UNIT 3 PB 8 PG 78 LOT 19

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,491 63,242 108,005
Median Age: 41.47 47.11 47.37
Households: 3,968 27,940 47,504

Contact

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