Catylist ID:
#30843049
Excellent Investment Opportunity - Medical Tenant
Office
for Sale
Sale Pending/Contingent
Also listed as Industrial
| Catylist Listing ID: | 30843049 |
| Property Subtypes: | Business Park, Medical, Flex Space |
| Status: | Pending/Contingent |
| Condo? | Yes |
| Building Size (RSF): | 18,000 SF |
| Sale Price: | $1,850,000 |
| Property Use Type: | Investment |
| Building Name: | 10 Continental Drive |
| Class of Space: | Class B |
| Usable Size (USF): | 18,000 SF |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 10.04% |
| Average Occupancy Rate: | 100 |
| Last Updated: | 6/9/2023 |
Overview / Comments
|
Excellent Investment Opportunity with New Income Level at 10 Cap! New Lease extension to 9/31/2026 which will bring the Tenant's commitment at this location to 19 years. Bring your investor offers to this opportunity in a great location. Office/Warehouse Condo with 18,000 Sq. Ft., constructed in 2007 on two levels, located in an Executive Office Park is Available For Sale with a Tenant in Place through the Fall of 2026! Great Investment, or plan the future for your own use. Excellent Condition Condo property offers a great opportunity for a solid Investment. Offering 9,000+/- square foot per floor for a total square footage of 18,000+/-. Quality office space consists of 9,600 Sq.Ft. on two floors, with 4,200 of warehouse service production space on the first floor, and 4,200 Sq.Ft. of storage on second floor. Smaller parcel elevator connects the Service area and the storage above. First floor has 7 private offices, Large open space with open office layout, two ADA bathrooms, supplies room. Warehouse has service area, shipping area, racking and receiving area with overhead door and inner door. Second floor has 2 conference rooms, 1 private office, large kitchen/break room, two ADA bathrooms, and large open area. Second floor storage is serviced by small elevator and is open storage area. A long term medical supply tenant has been in place since building was built. The lease was recently renewed for a further three years through September of 2026. Building 3, Unit J, at 10 Continental Drive. |
Financials
| Finance Data Year | 2023 |
|---|---|
| Real Estate Taxes - Annual($) | $28,952 (Annual) |
| Actual or Proforma Year | Actual |
Additional Details
| Nearest MSA: | Boston-Cambridge-Newton |
| County: | Rockingham |
| Submarket Type: | Central Business District |
| Taxing Authority: | Town of Exeter, NH |
| Tax ID/APN: | 047-004-0013 |
| Is Condo?: | Yes |
| Zoning: | C-3 |
| Property Visibility: | Good |
| Highway Access: | One mile from Exit 9 of Route 101, and 10 minutes to I-95 and less than 0 minutes to I-93 and Manchester area. |
| Airports: | Boston Logan Airport (BOS), and Manchester/Boston Airport (MHT) |
| Site Description: | Office Industrial Flex Space Parking: 32 HVAC: yes Has Sprinklers Power: 400 amp Const.Type: wood frame |
| Area Description: | Continental Drive is a mix of Warehouse / Office flex space. |
| Total Number of Buildings: | 1 |
| Number of Stories: | 2 |
| Typical SF / Floor: | 9,000 SF |
| Year Built: | 2007 |
| Roof Type: | Gable |
| Construction/Siding: | Wood Frame |
| Exterior Description: | Clapboard |
| Parking Type: | Surface |
| Parking Description: | Ample parking |
| Total Parking Spaces: | 32 |
| Freight Elevators: | 1 |
| Sprinklers: | Wet |
| Heat Type: | Natural Gas |
| Heat Source: | Central |
| Air Conditioning: | Other |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
| Easements: | Other |
| Easements Description: | Condo Association Easements |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 1,809 | 14,044 | 41,660 |
| Median Age: | 37.03 | 43.64 | 42.93 |
| Households: | 729 | 5,882 | 16,107 |
Contact
Gerry O'ConnellKW Coastal and Lakes & Mountains RealtyNECPE Member |
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