Catylist ID:
#30844591
Excellent Investment / Ideal 1031 property
Office
for Sale
| Catylist Listing ID: | 30844591 |
| Property Subtypes: | Governmental, Medical, Mixed Use, Net Leased, Office Building, Research & Development |
| Building Size (RSF): | 28,967 SF |
| Gross Building Area: | 30,588 SF |
| Gross Land Area: | 3.85 Acres |
| Sale Price: | $5,950,000 |
| Unit Price: | $205.41 PSF |
| Property Use Type: | Net Leased Investment (NNN), Investment, Vacant/Owner-User, Business |
| Building Name: | 81 Whittier Hwy |
| Class of Space: | Class A |
| Usable Size (USF): | 28,967 SF |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 9.08% |
| Average Occupancy Rate: | 100 |
| Last Updated: | 4/17/2024 |
Overview / Comments
|
BRING YOUR OFFERS - Motivated Seller. Exciting New Price of $5,950,000 - 9.6 Cap Rate with 3% annual increases, and almost 3 years left on the Lease. Excellent Investment opportunity and an Ideal hands off 1031 Exchange property. 81 Whittier Highway with 3.85 acres was built in 2014, and is a high quality 28,967 SF Office Building and has been maintained in excellent condition. The Lease renewed in 2022 for 5 years to end of January 2027. In the current year 2024, the net income is at a 9.08 Cap Rate and 3% annual increases, making this an attractive 1031 exchange property for a Buyer. The property serves as the World Headquarters for CruCon Cruise Outlets. Founded in 1995. CruCon Cruise Outlet is a full service North American cruise travel agency headquartered in the Lakes Region of New Hampshire. Fantastic setting in picturesque Moultonborough, on the North end of Lake Winnipesaukee. Moultonborough has Lake Winnipesaukee at it's South border, and Squam Lake at its West border. Boston Companies - Bring yourself, your business, and your employees to enjoy the NH Lakes Lifestyle. |
Additional Details
| Nearest MSA: | Boston-Cambridge-Newton |
| County: | Carroll |
| Taxing Authority: | Town of Moultonborough |
| Tax ID/APN: | 141-11 |
| Zoning: | COMMERCIAL |
| Property Visibility: | Excellent |
| Airports: | Boston Logan Airport (BOS), and Manchester/Boston Airport (MHT) |
| Total Number of Buildings: | 1 |
| Number of Stories: | 3 |
| Typical SF / Floor: | 10,000 SF |
| Year Built: | 2014 |
| Roof Type: | Gable |
| Construction/Siding: | Brick/Vinyl Siding |
| Exterior Description: | Excellent Quality Flagship Building, with ample parking on both sides of building. |
| Parking Type: | Surface |
| Parking Description: | Ample parking on both sides of the building with 147 spaces. |
| Total Parking Spaces: | 147 |
| Passenger Elevators: | 1 |
| Sprinklers: | Wet |
| Heat Type: | Propane |
| Heat Source: | Central |
| Air Conditioning: | Package Unit |
| Zoning Description: | Commercial with a huge variation of commercial uses allowed, and even residential is allowed. |
| Lot Frontage: | 546 |
| Lot Depth: | 425 |
| Water Service: | Well |
| Sewer Type: | Municipal |
| Easements: | Ingress/Egress, Utilities |
| Land Ownership: | Fee Simple |
Demographic Statistics
| Proximity: | 3 miles | 5 miles |
|---|---|---|
| Total Population: | 656 | 7,995 |
| Median Age: | 48.21 | 49.63 |
| Households: | 266 | 3,522 |
Contact
Gerry O'ConnellKW Coastal and Lakes & Mountains RealtyNECPE Member |
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