25% Ownership Interest for Sale.
Seasoned ground lease since 1977 with approximately 53 years remaining (February 2076). Lessee pays all expenses.
Nearly 40,000 sq. ft. of tenant owned buildings (5), situated on 1.56 acres of CC-3-4 zoned land.
Reversionary Interest in leasehold improvements at end of lease term.
Fair market value adjustments in monthly rent each 10 years.
Next rental adjustment will take place March 2028.
Annual rental is currently $72,000 ($288,000 x 25% = $72,000).
Favorable cap rate of 7.68%.