Investment Property - Timbercreek Office Park

Office for Sale
Catylist Listing ID: 30769855
Property Subtypes: Office Building
Building Size (RSF): 5,307 SF
Gross Land Area: 32,421 SF
Sale Price: $1,100,000
Unit Price: $207.27 PSF
Ceiling: 9 ft.
Property Use Type: Investment
Building Name: 9805 Millwood Circle
Class of Space: Class B
Usable Size (USF): 5,307 SF
Sale Terms: Cash to Seller
Cap Rate: 6.8%
Average Occupancy Rate: 100
Last Updated: 11/17/2021

Overview / Comments

Fully leased investment property in Timbercreek Office Park. Very well-maintained office building, New 5-year lease terms recently secured with the 2 national tenants in occupancy of the building.

Financials

Finance Data Year 2021
Gross Operating Income $94,575 (Annual)
Net Operating Income $74,652 (Annual)
Actual or Proforma Year Actual

Current Tenants

Tenant Business Name Edward Jones
Is Renting? Yes
SF of Space Occupied 1,503 SF
Lease Expiration 11/2026
Tenant Business Name Odyssey Healthcare
Is Renting? Yes
SF of Space Occupied 3,804 SF
Lease Expiration 1/2027

Additional Details

Nearest MSA: Daphne-Fairhope-Foley
County: Baldwin
Taxing Authority: Baldwin County
Tax ID/APN: 05-32-08-27-0-000-002.219
Zoning: B-3 / PROFESSIONAL BUSINESS
Property Visibility: Excellent
Highway Access: West side of Highway 181, across from Eastern Shore Center.
Site Description: Improved site, with surface parking lot
Area Description: Professional business park
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 5,307 SF
Year Built: 2004
Roof Type: Gable
Construction/Siding: Brick
Parking Type: Surface
Parking Description: Surface lot
Total Parking Spaces: 23
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Interior Description: Fully improved office suites
Zoning Description: B- 3 / Professional Business / City of Daphne
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Lot 4, Timbercreek Office Park

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 19,539 22,621
Median Age: 38.16 38.27
Households: 7,759 9,063

Contact

Photograph of Listing Agent

Jeff Barnes

Stirling Properties Mobile Mobile, AL
Gulf Coast CMLS Member
Photograph of Listing Agent

Steadman Bethea

Stirling Properties Mobile Gulf Coast CMLS Member
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