$1,150,000
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9,960 SqFt
SOLD DATE : 02/21/2020
Key Details
Property Type Commercial
Sub Type Office
Listing Status Sold
Purchase Type For Sale
Square Footage 9,960 sqft
Price per Sqft $115
Subdivision Coolcrest
MLS Listing ID 14243175
Sold Date 02/21/20
Total Fin. Sqft 9960
Year Built 1975
Annual Tax Amount $22,562
Lot Size 0.362 Acres
Acres 0.362
Property Description
7.5% CAP RATE. Location, Location, Location. 1 block from 380, in the heart of Denton, close to universities and downtown. Be the owner of this cash flowing, leased investment property, ready for your turn key investor. Property has new roof over-lay. New parking over-lay, seal coat and striping. Exterior newly painted. Fully leased. 4 current tenants occupying 6 units with 3 year escalating leases, increasing annually with 2 year tenant options after first three years. Front parking lot scheduled for re-paving. Projected cap rate year 2020 - 8.8%, Projected cap rate years 2021 & 2122 - 10.95%
Location
State TX
County Denton
Community Curbs
Zoning DR-2
Direction From 380, south on Elm, property is on the right.
Interior
Heating Central, Natural Gas
Cooling Central Air, Electric
Flooring Carpet, Ceramic Tile, Concrete
Heat Source Central, Natural Gas
Exterior
Community Features Curbs
Utilities Available City Sewer, City Water, Curbs, Individual Gas Meter, Master Gas Meter, Overhead Utilities
Roof Type Metal,Other
Street Surface Asphalt
Garage No
Building
Foundation Slab
Structure Type Brick,Metal Siding
Others
Ownership Elm St LLC
Financing Conventional
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Bought with Luto Begaj • eXp Realty, LLC
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "