Description
This street-front, high-traffic property on Hemphill St. has new lighting, electrical, plumbing, paint, polished concrete floors, and landscaping. Its offer at an above market CAP rate of 6.52% in a NNN lease with annual escalations and two 36-month renewals positions this building as a prime investment opportunity at $1.7M. This 8,100 SF building hosts two offices, a breakroom, two ADA compliant bathrooms, a reception, and a 6,377 SF supply area fed by 120 208V 3 phase power. One new 10-ton HVAC and gas hot water heater was installed early 2022 along with the other interior MEPs. The TPO roof is in good condition. The 12 car parking lot and 2 street spaces is deal for last mile services. This cash flowing property delivers a good balance of financial stability and ample opportunity to obtain a higher yield with the current tenant, DashMart, a subsidiary of DoorDash, Inc., who is of great creditworthiness.
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0BEDS
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0.33ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
This street-front, high-traffic property on Hemphill St. has new lighting, electrical, plumbing, paint, polished concrete floors, and landscaping. Its offer at an above market CAP rate of 6.52% in a NNN lease with annual escalations and two 36-month renewals positions this building as a prime investment opportunity at $1.7M. This 8,100 SF building hosts two offices, a breakroom, two ADA compliant bathrooms, a reception, and a 6,377 SF supply area fed by 120 208V 3 phase power. One new 10-ton HVAC and gas hot water heater was installed early 2022 along with the other interior MEPs. The TPO roof is in good condition. The 12 car parking lot and 2 street spaces is deal for last mile services. This cash flowing property delivers a good balance of financial stability and ample opportunity to obtain a higher yield with the current tenant, DashMart, a subsidiary of DoorDash, Inc., who is of great creditworthiness.
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