$7,300,000.00
941 WHEATLAND
81457.00 Sq. Ft.
Year Built : 1949
List Date : 2020-08-21
MLS# : B PALA168850
100% Commercial Investment Opportunity in the desirable West End of Lancaster City near Franklin & Marshall College. This 4 Story building known as Wheatland Place, is just 2 miles to Route 30 and consists of 75,483 gross sqft, with 40,304 leasable sqft. Income is generated by 18 Tenant suites (all NNN leases) + 2 rooftop cell tower leases. Wheatland Place main entrance features a welcoming lobby with a full glass vestibule, high ceilings, directory signage + seating area. Modernized Tenant suites offer an abundance of large operable windows, flexible floor plans and varying suite sizes. A rare City amenity is the large onsite parking lot offering 109 striped spaces. Additional amenities: Security via an automatic door locking schedule and 24/7 keycard access; 100% Sprinklered; ADA access +ADA Restrooms; passenger elevator by lobby and freight elevator by delivery door for ease of Tenant move in/out; Restrooms on each floor; Central heating system with individual central air for each suite, which are both Tenant controlled and Tenant paid. Tenant Longevity: 50% of Tenants have leased at Wheatland Place for over 10 years. *** Annual Net Operating Income is over $498,000 which includes non-recovered Owner expenses for Management Fee, Leasing Commissions, Landlord repairs and a 5% Vacancy Factor. List price provides a 6.83% CAP. Rent Roll is available upon signing an NDA. - Copy/paste for video preview of property: https://vimeo.com/444197115/f692ffd94d
FEATURES
- Construction: Brick
- County: LANCASTER
- Lot Acres: 2
- Roof Type: Rubber
- Subdivision: WEST END LANCASTER
- Tax Amount: $143,807.00
- Tax Year: 2020
- Utilities: Electric Available
- Waterfront: N
This listing is courtesy of Progressive Property Mgmt.