About this property
Perfect investment opportunity for a business professional complex in Milton, Florida. Timberland Plaza is fully occupied with professional tenants like attorney and medical offices along with non-profit business offices.
The plaza is positioned with two buildings, on two separate parcels with an access easement that provides access to both buildings and a rear adjacent property in the rear of the plaza.
The plaza has a total of 16,450 SF with a history of stable tenants. The leases are currently between 1-2 year term leases. At present all leases are gross leases with the landlord paying property taxes, insurance and common area maintenance.
Existing monthly rental income is estimated at $14,440 or $173,280 annually.
Expenses for the plaza:
- $6000.00 annually (CAM)
- $22,000 (Property Taxes)
- $15,000 (Building Insurance)
Estimated NOI: $130,280 annually or 7.6% cap rate.
Call Listing Broker with any questions.
Property details
- Property Type
- Improved property
- Building Type
- Freestanding
- Building Size
- 16,450 sqft
- Land Size
- 2.23 acres
- Sewer
- Yes
- Water
- Yes
- Zoning
- C-2 Commercial
- Electric
- Yes
- Year Built
- 2003
- Roof
- Metal
- Parking
- Shared
- Construction
- Brick-Wood Stud
Location
- Address
-
6478 US Highway 90
Milton, Florida 32570