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Admirals cove is one of Jupiter, Florida's finest private gated communities in Palm Beach Country and one of Florida's premier golf and yachting addresses.
This luxury office building is located in an excellent location. The physical property consists of 19,452 sf of leasable space well situated on a large 1.149 acre lot. This property is currently 82.44% occupied with only three vacancies. It is currently grossing $251,439 annually netting $150,022. There are several existing tenants that have renewals upcoming in the next couple of years. This gives an investor a significant advantage to raise rents to market rates. Included in this offering is a proforma outlining new market leasing rates. These proforma figures project a gross operating income that will be $389,789.88 netting $288,373.88 a year. This NOI will yield an investor a 9.7% Capitalization rate.
Listing Courtesy of RE/MAX 5 Star Realty.
Short sales can be tricky transactions and a lengthy process, but they can also be a great way of purchasing a great home for a bargain price. A short sale is a property than can...
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