500 McKnight Park Dr - Loft/Creative Space CONDO FOR SALE
Pittsburgh, PA 15237 |
500 McKnight Park Dr
Pittsburgh, PA 15237
HIGHLIGHTS
- TURN KEY INVESTMENT.
- CONDO FEES COVER MOST EXPENSES.
- TURN KEY INVESTMENT. DESIRABLE PITTSBURGH ADDRESS WITH A PROFESSIONAL APPEARANCE.
- MINUTES TO DOWNTOWN PITTSBURGH.
- LOCATED IN THE NORTH HILLS OF PITTSBURGH IN ROSS TOWNSHIP NEXT TO THE ROSS PARK MALL.
- WELL MANAGED AND MAINTAINED PROFESSIONAL OFFICE PARK.
OVERVIEW
TWO OFFICE CONDOS IN MCKNIGHT PARK PROFESSIONAL OFFICE PARK. FULLY LEASED BY TWO TENANTS. UNITS 506 AND 506-B.
WELL MAINTAINED OFFICE AND OFFICE PARK. CONDO FEE COVERS PROPERTY MAINTENANCE AND EXPENSES.
REAL ESTATE TAXES (Paid by owner) AND ELECTRIC (Paid by Tenant). ALL ELECTRIC HVAC REPLACED 2016-2017.
EXPENSES ARE PAID BY CONDO FEEs WHICH ARE $555 A QUARTER PER UNIT OR $4,440 YEARLY TOTAL .
REAL ESTATE TAXES ARE $2,694 PER YEAR FOR BOTH UNITS.
NEW LEASE YEAR AT $14 A SQUARE FOOT X 1550 SQ/FT =GROSS RENT OF $21,700.FOR BOTH UNITS.
$21,700 (Gross) - $7,134 (Expenses) = $14,567 (NOI DIVIDED BY. OFFERING PRICE $145,000 IS 10.05% CAP RATE.
TENANT PAYS FOR ELECTRIC. UNITS ARE ALL ELECTRIC HVAC.
FOR SALE DETAILS
PRICE
-
CAP RATE
-
% LEASED
-
TENANCY
-
BUILDING DETAILS
PROPERTY NAME
FULLY LEASED 10% Cap Rate
PROPERTY TYPE
Office
PROPERTY SUBTYPE
Loft/Creative Space
TOTAL BUILDING SIZE
12000
STORIES
3
BUILDING CLASS
B
YEAR BUILT
1988
SPRINKLERS
-
PARKING SPACES
50
LAND DETAILS
LAND ACRES
0.11 AC AC
LAND SF
4,792 SF
ZONING
-
APN/PARCEL ID
0431-G-00320-0000-00
