Multi-Tenant Office Investment Opportunity

Multi-Tenant Office Investment Opportunity
220 N Westmonte Dr, Altamonte Springs, FL 32714, USA
For Lease, For Sale $1,800,000.00 $15.00 NNN For Lease - Office
220 N Westmonte Drive 18031 1666 - 2560 For Lease

220 N Westmonte Drive, Altamonte Springs, FL

  • (6) Suite Multi-Tenant Office Building in Altamonte Springs, FL
  • 18,031 SF under roof, 13,080 SF under air, Tilt wall construction (1985)
  • 1.05 Commercial zoned site with 62 parking spaces (5/1000)
  • Separate meters, glass store fronts, elevator, and some covered parking with nice covered atrium that can be filled in for additional leasable area
  • (2) Vacant contiguous suites totaling 4,226 SF for an owner user (2nd Floor)
  • Close to I-4, SR 436, SR 434, and close to several restaurants
  • Current NOI at 39% Leased is $86,116 (5% Cap Rate at 39% Leased)
  • 25% down at 4.75% over 25 Years = $7,618 (P&I) or $91K in Debt Service
  • Buyer can lease 1 unit and occupy the other and the rental income will service the debt and expenses and Buyer can occupy a unit at no cost + make money
  • Suite C Available:                                           1,666 SF               $2,082.50 NNN
  • Suite D Available:                                          2,560 SF               $3,200.00 NNN
  • Suite F Available: (Medical)                        1,826 SF               $2,282.50 NNN
  • Lease Rate:                                      $15.00 NNN ($2.35 NNN expenses)
  • Sales Price:                                      $1,800,000  ($100 PSF)

 

 

 

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Agent Vincent Wolle, CCIM, SIOR

As the founder of RREP, Vince has had over 18 years experience in the commercial real estate market and has…
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