Description
100% tenant occupied Class B building with Social Security Administration, a Government Entity who is a secure tenant and has been in place for 12 years with 3 years left on lease. Recession proof tenant. This property sits in the Delta Business Park Development on .23 acres. Fabulous property management company handles the Gov't requirements with such skill that it makes for a great investment property. Just go to the mail box and get the check. Currently a 3.2 % cap rate with an NOI of $90,000/yr. Higher expenses the last two years due to fulfilling GSA required improvements. Full service lease. Annual CPI increase. Tenant pays majority of property taxes for assessed amounts over $1,314,000 assessed value. Located near BART, Shopping and Dining. Constructed in 2007 and extensively renovated in 2013 for this tenant. Excellent Long Term Prospects for Occupancy. Social Security Administration has no indication of leaving and is not on the closure list. Feds are now requiring in-person visits for SSA.
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0BEDS
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0.23ACRES
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0BATHS
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01/2 BATHS
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9,600SQFT
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$292$/SQFT
School Ratings & Info
Description
100% tenant occupied Class B building with Social Security Administration, a Government Entity who is a secure tenant and has been in place for 12 years with 3 years left on lease. Recession proof tenant. This property sits in the Delta Business Park Development on .23 acres. Fabulous property management company handles the Gov't requirements with such skill that it makes for a great investment property. Just go to the mail box and get the check. Currently a 3.2 % cap rate with an NOI of $90,000/yr. Higher expenses the last two years due to fulfilling GSA required improvements. Full service lease. Annual CPI increase. Tenant pays majority of property taxes for assessed amounts over $1,314,000 assessed value. Located near BART, Shopping and Dining. Constructed in 2007 and extensively renovated in 2013 for this tenant. Excellent Long Term Prospects for Occupancy. Social Security Administration has no indication of leaving and is not on the closure list. Feds are now requiring in-person visits for SSA.
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