3907 Waring Road

Highlights:

• Available Floors: 1
• Average Floor Size: 10076.0
• Average Occupancy Rate: 100.0
• Cash Flow: 30449.88
• Fully Leased Income: $ 30449.88
• Max Contiguous Area: 10076.0
• Age: 31-40 Years Old
• Lot Size: 1/2 - 1 Acre
• Sewer: City
• Water: City Water

Description:

Extremely RARE type of Ground Lease Agreement NNN Ground lease with 24 years left Fully leased to medical specialist (Oncologist etc) Medical Building located alongside the Tri-City Medical Hospital and Tri-City Medical Park 10,076 Sq ft Medical Building Managed by ShareMD Current rent with no increase for 24 years is significantly lower than market rent (Currently recieving around 10% of the market value rent) HUGE UPSIDE POTENTIAL AFTER 24 YEARS Perfect for buyers who want to purchase now and looking far ahead for a huge incentive later on although no increase of rent during the 24 years Originally 75 years Ground lease with 24 years left until lease runs out on 2/27/2059 Tenant pays for everyting, Landlord collects approximately $2,500 per month net for the next 24 years As a back up safety, during the lease term until 2059, tenants have the first right of refusal to purchase at a set high- price