Asking Price Contact for pricing
Sq. Footage
NOI Net Operating Income N/A
Cap Rate N/A

Attributes

Year Built 1982

Property Description

-14,714 SF of office space, (2) stories, +/- 1.00 AC, parking 3.33 per 1,000 SF (52 Free surface parkings/ 3 ADA surface spaces). Structure - Concrete finishes, concrete slab and structural steel Exterior - Stone, tile and stucco exterior with aluminum framed windows 2 sets of metal framed glass entry doors and 1 set of solid wood & wrought iron entry doors, Trex and pressure treated lumber deck. Interior - Sealed red brick, tile, carpeting and LVT plan flooring

Investment Highlights

  • Excellent Value-Add Opportunity
  • • Currently 67% leased with 2.7 years of WALT remaining, West Bank presents potential investors with a tremendous valueadd
  • opportunity via mark-to-market opportunities as average in-place rental rates of $28.20 per square foot FSG are
  • approximately 62% below market rates of $22.50 per square foot NNN
  • • Conversion of full-service gross leases to NNN leases will protect potential investors from future operating expense
  • increases while minimizing expense losses during potential tenant rollover
  • • Additional value creation exists through the lease up of the 4,854 square feet of vacancy at market rates, potentially adding
  • approximately $190,000 to the NOI
Cathy Nabours
Cathy Nabours
Managing Director
Licensed in
479015
Walter Saad
Walter Saad
Managing Director
Licensed in
415184

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