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924 Russell Drive

LEBANON, PA 17042
  • $850,000
  • STATUS: Active
  • ON SITE: 464 Days
  • ID#: PALN114630
UPDATED: 42 min ago
$850,000
  • 0
    BEDS
  • 1
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1995
County:

School Ratings & Info

School District:

Description

Excellent opportunity to own, lease or occupy a Modern Office building in a desirable Business Park. Social Security is the current tenant, but is expected to vacate the building within the next 6 to 12 months. The building will then be available for a new tenant or owner/occupant. Current net operating income of $70,288 is an 8.27% Cap Rate. When Social Security vacates, leasing at the estimated Market Rent with limited expenses of Real Estate Tax, Insurance, Lawn Care & Snow Removal projects a Net Operating Income of $74,600 which boosts your return to a 8.78% Cap Rate at the listed price. A modified Net projected operating statement for post SSA occupancy has been uploaded under documents icon, Owner has relocated out of state and is looking to exchange into an investment in that location.

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©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Berkshire Hathaway HomeServices Homesale Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-10-22T19:51:52.837.
www.centralpahomesaleteam.com/homes/107848861
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924 Russell Drive LEBANON, PA 17042

  • Price: $850,000
  • Status: Active
  • Updated: 42 min ago
  • ID#: PALN114630
0
Beds
0
Baths
0
½ Baths
1
Acres
1995
Built
Neighborhood:
Tuck Business Park
County:
Lebanon
Area:
North Cornwall Twp (13226)
School District:
Cornwall-Lebanon
Property Description
Excellent opportunity to own, lease or occupy a Modern Office building in a desirable Business Park. Social Security is the current tenant, but is expected to vacate the building within the next 6 to 12 months. The building will then be available for a new tenant or owner/occupant. Current net operating income of $70,288 is an 8.27% Cap Rate. When Social Security vacates, leasing at the estimated Market Rent with limited expenses of Real Estate Tax, Insurance, Lawn Care & Snow Removal projects a Net Operating Income of $74,600 which boosts your return to a 8.78% Cap Rate at the listed price. A modified Net projected operating statement for post SSA occupancy has been uploaded under documents icon, Owner has relocated out of state and is looking to exchange into an investment in that location.
Exterior Features

Construction Materials Brick VeneerDryvitStone Door Features Double Entry Garage YN No Location Type Business Park Lot Features Corner Parking Features Handicap ParkingLighted ParkingPaved Parking Parking Types Parking Lot Property Condition Excellent Riparian Rights YN No Road Responsibility Boro/Township Road Surface Type Black Top Roof PitchedShingle Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 6218.00 Cooling Central A/C Flooring CarpetCeramic TileConcreteVinyl Heating Forced Air Heating YN Yes Net Square Feet 6000.00

Property Features

Acceptable Financing CashConventional Accessibility Features 32"+ Wide Doors48"+ HallsLevel Entry - MainNo StairsAccessible Switches/Outlets Assessment Year 2021 Association YN No Business Type Professional Central Air YN Yes Cooling Fuel Electric Cross Street Isabel Drive Electric 200+ Amp Service3 PhasesCircuit Breakers Entry Level 1 Foundation Details Slab Gross Income 131957.00 Heating Fuel Natural Gas Hot Water Natural Gas Municipality North Cornwall Twp Navigable Water YN N Net Operating Income 70288.00 New Construction YN No Number Of Units Total 1 Operating Expense 43008.00 Operating Expense Includes ElectricHeating/CoolingInsuranceLandscapingManagement FeesPest ControlRepair/MaintenanceSewerSnow RemovalTrashWater Original MLSNumber 304200253393 Owner Pays All Utilities Ownership Interest Fee Simple Possession SettlementSubject To Existing Lease Property Sub Type Office Sale Type Standard Sewer Public Sewer Tax Annual Amount 19213.00 Tax Assessment Amount 907000.00 Vacation Rental YN No Water Source Public Year Built Effective 2006 Zoning O-I Zoning Description Office Institutional

Listing courtesy of Suburban Realty.


©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Berkshire Hathaway HomeServices Homesale Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-10-22T19:51:52.837.
 
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801 Belvedere St, Suite 100
Carlisle PA, 17013
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