$765,000
Court Appointed Receiver, Prodigy Properties, is pleased to present the opportunity to acquire 652-656 Youngstown Warren Rd., a medical office investment, located in Niles, OH, being offered with a revised price of $995,000. Niles is considered a submarket of Youngstown and is less than 8 miles Northwest of Youngstown, and less than 6 miles Southeast of Warren. Constructed in 1984, renovated in 2002, this medical office building features over 10,500 SF of medical or professional office space.
INVESTMENT HIGHLIGHTS
-Committed, long-standing tenants, all tenants have occupied their space for more than 15 years and have a history of consistent renewals.
-Free & clear of debt, the property will be delivered free and clear of debt, allowing a new owner the opportunity to pursue a debt structure that complements their investment strategy.
- Amenity base, within close proximity is an abundance of restaurants (fast food and casual), retail (shopping and grocery) & service providers.
- Opportunity to add value, the offering provides the ability to add value through the lease-up of the currently vacant medical office space at market rents.
- Attractive Return Metrics, the asset is aggressively priced with a projected cap rate in excess of a 12% providing investors with a low risk, high return investment opportunity with an already existing & proven rent base.
4434746
MLS
652-656 Youngstown Warren Road, Niles
Listing Courtesy of: Jeffrey S Lane, julie@prodigyprop.com With Prodigy Properties
Selling Office: Non-Member.