Century Office Center Multi-tenant, seven Building office park consists of two one-story office buildings, three two-story office buildings, and two three-story office buildings, with a total building area of 106,317 SF, and total rentable SF of 90,548. with high visibility and 661 feet of frontage along Memorial Parkway, Huntsville’s primary commercial corridor. -Sixty percent of suites have renovated interiors that feature upgraded drywall, trim, and flooring. As vacant spaces are move-in ready, no significant capital expenditures are needed. -With a parking ratio of 3.54 spaces per 1,000 SF of rentable space, the buildings can suit a variety of different uses. -The subject’s location, within two miles of three hospitals, appeals to medical professionals. -Substantial upside potential to increase NOI by more than $150,000 through increased occupancy. -Attractive in-place cash on cash of 9.09% can be increased to 15.5% by increasing occupancy to 90%. -Possible eventual exit strategy of tear-down and redevelopment.
详细介绍
Century Office Center Multi-tenant, seven Building office park consists of two one-story office buildings, three two-story office buildings, and two three-story office buildings, with a total building area of 106,317 SF, and total rentable SF of 90,548. with high visibility and 661 feet of frontage along Memorial Parkway, Huntsville’s primary commercial corridor. -Sixty percent of suites have renovated interiors that feature upgraded drywall, trim, and flooring. As vacant spaces are move-in ready, no significant capital expenditures are needed. -With a parking ratio of 3.54 spaces per 1,000 SF of rentable space, the buildings can suit a variety of different uses. -The subject’s location, within two miles of three hospitals, appeals to medical professionals. -Substantial upside potential to increase NOI by more than $150,000 through increased occupancy. -Attractive in-place cash on cash of 9.09% can be increased to 15.5% by increasing occupancy to 90%. -Possible eventual exit strategy of tear-down and redevelopment.
