Description
5.7% CAP to end of Lease term 2-28-22, 6% CAP to end of Lease term 2-28-27, 6.5% CAP to end of lease term 2-29-32. Current Lease ends March of 2022. There are two, 5-year options in place for an additional 10 years with a 10% increase in rent on each option. NNN + Lease with no expenses to the owner whatsoever. Tenant has been there 28 years since 1992 and has another 12 years to go. Located just south of Vaca cut bridge Directly off US 1. Well established National Tenant maintains all property taxes, insurance, and property maintenance approx. 35k annually. New roof 2018, new interior walls, paint, electric, lighting, new insulation, new breaker boxes, updated bathroom and added extra bathroom in 2018.
-
0BEDS
-
0.3ACRES
-
0BATHS
-
21/2 BATHS
-
7,130SQFT
-
$245$/SQFT
School Ratings & Info
Description
5.7% CAP to end of Lease term 2-28-22, 6% CAP to end of Lease term 2-28-27, 6.5% CAP to end of lease term 2-29-32. Current Lease ends March of 2022. There are two, 5-year options in place for an additional 10 years with a 10% increase in rent on each option. NNN + Lease with no expenses to the owner whatsoever. Tenant has been there 28 years since 1992 and has another 12 years to go. Located just south of Vaca cut bridge Directly off US 1. Well established National Tenant maintains all property taxes, insurance, and property maintenance approx. 35k annually. New roof 2018, new interior walls, paint, electric, lighting, new insulation, new breaker boxes, updated bathroom and added extra bathroom in 2018.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Florida Keys MLS, Inc. Real estate listings held by brokerage firms other than Key West Luxury Real Estate Inc are marked with the MLS Logo and detailed information about them include the name of the listing broker's office.