Downtown Office

Investment Overview

Unit 3A, the western half of the third floor, is available for sale for an asking price of $1,250,000. The condo is currently demised in two suites and occupied, offering a buyer an in-place projected gross income of $112,679.25. The projected net income is $95,619. The smaller suite, approximately 2525 sf, is leased for below market rent on a shorter-term basis with a lease featuring termination rights. The larger suite, leased to Morgan Stanley, has remaining term and renewal options. This purchase opportunity is perfect for an investor looking for in-place income with upside potential from leasing the smaller suite at a higher rental rate, or for an owner that intends to use the smaller suite for their own business while receiving income from the other tenant.