GSA leased 8,819 square foot office building one mile north of downtown Pensacola. Total renovation in 2019. Occupied by the U.S. Census.
11.4% cap rate is based upon average monthly net income of $9,428.98. Full service rent is $14,253.25 monthly (approximately $19.39/per square foot) through June 18, 2020, with the option to extend through December 31,2020. Full services fees average $6.56/per square foot.
The current estimated lease termination date is October of 2020.
Great opportunity for an investor or user willing to take occupancy next year.