Applegate Recovery | 2418 & 2388 S Main St
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Applegate Recovery 2418 & 2388 S Main St
2,548 SF Office Building Mansfield, PA 16933 £344,652 (£135/SF) 7.82% Net Initial Yield
Investment Highlights
- Applegate Recovery Services has exercised their second of three 3-year lease options as of 6/15/23.
- Providing easy access to local businesses, services, and transportation routes.
- The property’s location on a main road provides visibility and accessibility.
- Tenant reimburses landlord for all expenses except for real estate taxes.
- The office building is situated on S Main St, providing easy access to key local roads and highways.
- Being centrally located means that local amenities such as restaurants, banks, and other services are within a short distance.
Executive Summary
Situated on the outskirts of Mansfield Borough in Tioga County in northern central Pennsylvania, this office property was originally constructed as a single family house and has been converted to a Single Tenant Medical Office. The building is situated on a 38,333 SF lot, and this sale also includes the adjoining lot of 35,284 sq ft .The entrance to both properties is off of Main Street. The roof of the building is pitched and shingled. Zoning is Commercial Office Building Low-Rise and Commercial Vacant Land for the adjoining lot. There is plenty of parking surrounding the whole building
Financial Summary (Actual - 2022) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2022) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Sale Condition
Tenants option to buy property
Property Type
Building Size
2,548 SF
Building Class
C
Year Built
1982
Price
£344,652
Price Per SF
£135
Net Initial Yield
7.82%
NOI
£26,936
Tenancy
Single
Number of Floors
2
Typical Floor Size
1,274 SF
Building FAR
0.03
Lot Size
1.69 AC
Zoning
Commercial - Commercial Office
Parking
8 Spaces (2.52 Spaces per 1,000 SF Leased)
Amenities
- Signage
- Smoke Detector
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Applegate Recovery
- Health Care and Social Assistance
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Applegate Recovery | Health Care and Social Assistance | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
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PROPERTY TAXES
| Parcel Number | 29-09.00-043C | Improvements Assessment | £153,386 (2024) |
| Land Assessment | £20,718 (2024) | Total Assessment | £174,104 (2024) |
PROPERTY TAXES
Parcel Number
29-09.00-043C
Land Assessment
£20,718 (2024)
Improvements Assessment
£153,386 (2024)
Total Assessment
£174,104 (2024)
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Applegate Recovery | 2418 & 2388 S Main St
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