Property Information
Built in 1959 – Building completely renovated in 2018 (new roof (TPO), electrical, plumbing, newly surfaced and striped parking lots, newly painted exterior with new façade, lighting and landscaping. Newly constructed office, waiting area and customer restroom. Zoned local retail. 100% occupied. 123 month lease commenced on 11/18/19. Tenant responsible for all repair/maintenance minus foundation, exterior walls, roof and other structural components. Security deposit: $7,000. Extension Options: Two (5) year option periods to extend the term. Right of First Refusal: Yes, must be exercised within 10 business days. Personal Guaranty: Yes (Jaime Pillai). Corporate Guaranty: No. NNN Lease: Tenant responsible for all tax and insurance reimbursements. Tenant responsible for any/all common area repairs and maintenance. Landlord responsible for foundation, roof (new TPO roof in 2018), structural components and exterior walls. Cap Rate: 7.0% – Months 4-60, 7.5% – Months 61-123.
Property Details
- $ 1,200,000
- 4,920 SF (+/-)
- 22,880 SF (+/-)
- 1959
- LR
Location Information
North side of Boulevard 26, one block north of Glenview Drive and 1/2 mile south of NE Loop 820.
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