
Description
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
-
0BEDS
-
1.87ACRES
-
0BATHS
-
01/2 BATHS
Description
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
©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Teampete Realty Services, Inc. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-01-17T23:50:30.563.