Flex Building in Terrific Location With On-Site Parking!

Office for Sale
Catylist Listing ID: 30655202
Property Subtypes: Flex Space, Office Building
Building Size (RSF): 18,000 SF
Gross Building Area: See Agent
Gross Land Area: 1.29 Acres
Sale Price: $1,050,000
Unit Price: $58.33 PSF
Property Use Type: Investment, Vacant/Owner-User
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/5/2020

Overview / Comments

GREAT BUILDING, LOCATION AND ON-SITE PARKING! 200-206 N State St. is located just minutes from I93 and I393. North State St is a busy connector street to Penacook Village, Boscawen, Canterbury and East Concord.
The building is currently shared between two Tenants. Cobb Hill Construction, Inc. (12,000sf) and the Friends Program (4500sf).
There are 41 paved, freshly striped parking spaces around the building and 9 free, on-street parking spaces in front of the building.
The Friends lease ends March 31st, 2021. It can be available with 30 day notice. This opens the space up for an owner user purchase if desired. This space is being offered for lease at $4200.00/mo + util. Cobb Hill has a lease until August 31, 2023 with a five year option to renew.
We ask that anyone interested in this building sign a non-disclosure form. At which point we will be happy to furnish you with numbers.

Financials

Finance Data Year 2020
Real Estate Taxes - Annual($) $28,750 (Annual)
Tax Value Land $362,200
Assessed Value - Total($) $1,034,900 (Annual)
Gross Operating Income $160,800 (Annual)
Actual or Proforma Year Actual

Current Tenants

Tenant Business Name Cobb Hill Builders
Industry Type Construction
Is Renting? Yes
Year Founded 2001
SF of Space Occupied 12,000 SF
Lease Expiration 8/0031
Options One (1) five (5) year option to renew
Tenant Business Name The Friends Program
Is Renting? Yes
SF of Space Occupied 4,500 SF

Additional Details

Nearest MSA: Concord
County: Merrimack
Tax ID/APN: 4532
Zoning: UT
Property Visibility: Excellent
Highway Access: Easy access highways. I 393 and I 93 are less than 5 minutes south of the building.
Site Description: The building sites along N. State St with huge frontage. Each Tenant has their own sign at the street in front of their respective units. Offices at the back of the building look out into a large wooded area.
Area Description: Downtown Concord is apprx 8 minutes from the building.
Number of Stories: 2
Year Built: 1920
Roof Type: Gable
Construction/Siding: Vinyl Siding, Wood Frame
Exterior Description: This is a well kept building with beautiful plantings across the front. The south end parking lot was recently repaved and striped. The back of the north end of the building has 3 overhead doors leading into the storage areas.
Parking Type: Surface
Parking Description: There are a total of 41 parking spaces around the building with an additional 9 city spaces in front of the building.
Total Parking Spaces: 41
Sprinklers: Dry
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Zoning Description: UT - Urban Transitional
Lot Frontage: 200'
Water Service: Municipal
Sewer Type: Municipal
Legal Description: 2307/0727

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,886 32,391 46,421
Median Age: 35.44 39.88 39.79
Households: 1,361 13,223 19,033

Contact

© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither New England Commercial Property Exchange nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.