2 Acres in Farmville, VA - $1,400,000
This building was new in 2005, is low maintenance, and currently has a capitalization rate of 8.1%. There are 3 units, 2 of which are leased for an annual gross income of $200,161 and annual expenses of $60,856 which yields a net operating income of $139,305 which yields a CAP rate of 9.95% SSA lease runs from 2005~2015 with a 5 yr. renewal option. Smaller lease expires July of 2012.Lessor has maintenace, janitorial, and utilty expenses with larger lease. 3rd unit is 2900 sq. ft. unfinished and currently unleased. This provides an excellent opprotunity to increase the return on investment.Security System, Security Lighting, Restroom -Public, Restroom-Private, Sprinkler, & Inside Storage.
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