J.K. Medical Building | 6779 Memphis Ave
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J.K. Medical Building 6779 Memphis Ave
7,995 SF 100% Leased Office Building Brooklyn, OH 44144 £385,821 (£48/SF) 7.37% Net Initial Yield
Investment Highlights
- Close of I480
- Very well maintained brick building
- Heavy traffic street
Executive Summary
This is a 9-unit medical building, 100% occupied.
3 new HVAC hydronic baseboard heaters in 2022.
The parking lot was replaced in 2023.
Tenant occupancy details: While some tenants are on a month-to-month basis, the majority are on stable one-year leases, providing a consistent source of income.
Additional income from renting the parking lot after 5 pm.
Average rent: $556.
Lot size 8,925.
3 new HVAC hydronic baseboard heaters in 2022.
The parking lot was replaced in 2023.
Tenant occupancy details: While some tenants are on a month-to-month basis, the majority are on stable one-year leases, providing a consistent source of income.
Additional income from renting the parking lot after 5 pm.
Average rent: $556.
Lot size 8,925.
Financial Summary (Actual - 2023) 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 |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) 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 | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| 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
Property Type
Office
Property Subtype
Medical
Building Size
7,995 SF
Building Class
B
Year Built/Renovated
1964/1974
Price
£385,821
Price Per SF
£48
Net Initial Yield
7.37%
NOI
£28,433
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
3,667 SF
Slab to Slab
9 ft
Building FAR
0.93
Land Acres
0.20 AC
Zoning
R-B
Parking
16 Spaces (2 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Bus Route
- Basement
- Central Heating
- Air Conditioning
- Smoke Detector
1 of 1
Walk Score ®
Very Walkable (74)
PROPERTY TAXES
| Parcel Number | 432-26-009 | Total Assessment | £77,574 (2022) |
| Land Assessment | £10,360 (2022) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £67,215 (2022) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
432-26-009
Land Assessment
£10,360 (2022)
Improvements Assessment
£67,215 (2022)
Total Assessment
£77,574 (2022)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2023
-
Ruset Patrascu -
Phoenix9 Realty, Inc.
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J.K. Medical Building | 6779 Memphis Ave
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