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Key Details
Sold Price $1,375,000
Property Type Commercial
Sub Type Office
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 20003665
Sold Date 01/18/23
HOA Y/N No
Originating Board MLS Metrolist
Year Built 2009
Lot Dimensions 10,500
Property Description
The Trinity Office Bldg. is a very attractive multi-tenant office bldg.built in 2009. It's fully occupied with 5 separate tenants. Gross Scheduled Rents of $135588 / year (i.e. current rents of $11,299/ month). With 30% down + estimated 2% closing costs the Cash on Cash rate of return is projected to be 8.81% (i.e. a 3.9% interest rate & a 25-yr. amortization schedule with a 5 interest rate reset and a 10 year balloon). Price is a 7.03% Capitalization Rate. Beautiful 'Pride of Ownership' property located within 1 block from City Hall, in the middle of the City's newer professional office buildings area and 1 block from City's primary arterial, Robertson Boulevard. There is parking behind the building off of the alley and also the building has 9 designated parking spaces in the City owned Parking Lot across 4th St. from the office. Aso street parking in front of building on both Trinity Avenue and 4th Street.
Location
State CA
County Madera
Area 23001
Direction From Hwy 99 take Robertson Boulevard exit and go west on Robertson Blvd. to 4th Street. Turn left and go 1 block to property which is on the NEC of 4th Street and Trinity Avenue
Location Details Restaurant Nearby,See Remarks
Interior
Heating Central
Cooling Central
Flooring Carpet, Linoleum/Vinyl
Exterior
Garage Open, Public, Street, See Remarks
Water Access Desc Public
Roof Type Flat
Accessibility AccessibleApproachwithRamp, AccessibleDoors
Handicap Access AccessibleApproachwithRamp, AccessibleDoors
Building
Story 1
Sewer Public Sewer
Water Public
Others
Senior Community No
Tax ID 002-048-010
Special Listing Condition None
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Bought with Non-MLS Office