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11.83 CAP STATE OF NV OFFICE TENANT + MULTI!! 1000 C St 9,576 SF 100% Leased Office Building Hawthorne, NV 89415 $714,132 CAD ($74.58 CAD/SF) 11.83% Cap Rate
Executive Summary
STATE OF NEVADA LEASES!!
This mixed use asset includes 2 buildings, the first is ±6,552 square feet and built in 1973 and the 2nd is ±3,024 square feet, built in 1976. All told, there are 3 office spaces, 2 recently remodeled apartments and a storage space. historical occupancy has been strong in this location, and the newly remodeled 1-bedroom apartment can be seen in the pictures, taken just prior to re-leasing.
Lease renewal is now complete with the State of Nevada, which has been an anchor tenant for 20+ years in this property. The Welfare office is now renewed, which is reflected in the financial analysis herein. The Rural Clinics lease was renewed last year for an initial 5 year term.
On average, rents are very strong and the buildings have now achieved 100% occupancy, with rent increases included. Our sales price makes this a 11.83% Cap Rate, making this an easy to manage and attractive investment opportunity
This mixed use asset includes 2 buildings, the first is ±6,552 square feet and built in 1973 and the 2nd is ±3,024 square feet, built in 1976. All told, there are 3 office spaces, 2 recently remodeled apartments and a storage space. historical occupancy has been strong in this location, and the newly remodeled 1-bedroom apartment can be seen in the pictures, taken just prior to re-leasing.
Lease renewal is now complete with the State of Nevada, which has been an anchor tenant for 20+ years in this property. The Welfare office is now renewed, which is reflected in the financial analysis herein. The Rural Clinics lease was renewed last year for an initial 5 year term.
On average, rents are very strong and the buildings have now achieved 100% occupancy, with rent increases included. Our sales price makes this a 11.83% Cap Rate, making this an easy to manage and attractive investment opportunity
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Office/Residential
Building Size
9,576 SF
Building Class
C
Year Built
1973
Price
$714,132 CAD
Price Per SF
$74.58 CAD
Cap Rate
11.83%
NOI
$84,482 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
4,788 SF
Building FAR
0.26
Lot Size
0.83 AC
Zoning
C1 - General Commercial - Mixed Use
Parking
22 Spaces (1.12 Spaces per 1,000 SF Leased)
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Somewhat walkable
20/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 001-011-24 | Improvements Assessment | $183,002 CAD |
| Land Assessment | $11,097 CAD | Total Assessment | $194,099 CAD |
Property Taxes
Parcel Number
001-011-24
Land Assessment
$11,097 CAD
Improvements Assessment
$183,002 CAD
Total Assessment
$194,099 CAD
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11.83 CAP STATE OF NV OFFICE TENANT + MULTI!! | 1000 C St
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