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Sold!
1010 S N Street #101
Lake Worth Commercial Properties / Palm Beach County and the Treasure Coast Commercial Properties
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8 Unit apartment building with a community pool in East Lake Worth. There are 6 two bedroom/2 bath apartments & 2 one bedroom, one bath apartments. Each unit has separate meters. Buyer MUST be willing to buy with the current tenant in place until November 2026.Tenant has option for 2 additional 5 year terms. Being sold with tenant in place on 5 year NNN leases at $120k/year. 3% rent escalation per year. Tenant pays ALL expenses, capital expenditures, taxes, and insurance. 6% estimated CAP rate going up as rent escalation goes up. Showings need to be scheduled around tenants.
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