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Listed by Roxanne Mercer • Roxanne Mercer Real Estate
$ 2,500,000
Est. payment | /mo
9,600 SqFt
$ 2,500,000
Est. payment | /mo
9,600 SqFt
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Square Footage 9,600 sqft
Price per Sqft $260
MLS Listing ID 325031970
Construction Status Exterior-Excellent,Interior-Excellent
HOA Y/N Yes
Year Built 2006
Property Sub-Type Office
Property Description
100% tenant occupied Class B building with Social Security Administration, a Government Entity who is a secure tenant and has been in place for 12 years with 3 years left on lease. Recession proof tenant. This property sits in the Delta Business Park Development on .23 acres. Fabulous property management company handles the Gov't requirements with such skill that it makes for a great investment property. Just go to the mail box and get the check. Currently a 3.2 % cap rate with an NOI of $90,000/yr. Higher expenses the last two years due to fulfilling GSA required improvements. Full service lease. Annual CPI increase. Tenant pays majority of property taxes for assessed amounts over $1,314,000 assessed value. Located near BART, Shopping and Dining. Constructed in 2007 and extensively renovated in 2013 for this tenant. Excellent Long Term Prospects for Occupancy. Social Security Administration has no indication of leaving and is not on the closure list.
Location
State CA
County Contra Costa
Area Antioch
Zoning Industrial Park
Interior
Heating Central
Cooling Central
Flooring Carpet
Exterior
Garage Spaces 31.0
Roof Type Other
Building
Story 1
Foundation Concrete
Sewer Public Sewer
Level or Stories 1
Construction Status Exterior-Excellent,Interior-Excellent
Others
Special Listing Condition Other
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