608 Ingraham Ave

Discover the lucrative potential of this prime Cash Flow Office Building in the vibrant downtown Central Business District! The first-floor Medical Office boasts a secure 5-year lease extension until 2027, offering stability and guaranteed returns. Meanwhile, the newly leased second-floor executive office space is occupied by a thriving local Homecare Service Business, ensuring a steady stream of income. Recent upgrades including new carpets, maintenance, 3 HVAC systems, a new roof, and laminate floors in the medical office enhance the property's appeal and value.Medical Office Lease structured that tenant contributes to their portion of Property Taxes and Sales Tax and Landlord is responsible of Exterior Maintenance, Main Sewer and Plumbing and HVAC Repairs and Maintenance and tenant responsible of Interior maintenance of the space they occupied.
Sellers have gone above and beyond by replacing the roof and conducting mold treatment, ensuring a worry-free investment with potential for a cap rate exceeding 9.76%. With future lease escalations and the opportunity for new tenant placement, secure your financial future with this solid long-term cash flow generator.
Three of the upstairs offices have views of the park across the street. All of the interior doors have adjustable blinds and the building is wired with Cat 5 voice and data lines. Walking distance to City Library, City facilities, shopping and medical. This is a great investment property with average projected capitalization rate 8.39%. High Demand location for Medical and Executive Office spaces due to Recent Population increase and projected growth of 17.58% within next 5 Years and major Retail, Residential, Hospitality and Industrial Investments within 5 Miles Distance.
Boasting 3800 sq ft of premium 1st-floor medical office space, this property offers seamless accessibility to Ingraham Ave and convenient public parking, making it a lucrative investment opportunity for those seeking a high ROI in the flourishing commercial real estate market.
Upstairs Unit carpet replaced and freshly painted along with 2 HVAC units replaced recently. Seller recently replaced the first floor roof.
Value Add opportunity for future Buyers with new Roof replacement recommended by licensed Inspector and future lease escalation will continue generating above 8% Cap Rate and opportunity to Owner solid long term cash flow.