Description
This property has a 99 year ground lease in place which began july 1, 2021. the lease is an absolute nnn, with no landlord responsibilities or expenses. the monthly rent july 1, 2025 is $1585.14. the annual rental increases are 2%, or the consumer price index, whichever is greater. the property is improved with a $3,750,000 mixed use building that includes retail and housing. the price is based on a cap rate of 6, which is excellent for a ground lease with rate bumps. typical rate bumps are at 5-10 year increments and are annual and compounding. offers will require a three week response time to an rfr. the property itself is free and clear, and not subject to any debt on the improvements.
Property Type
LandCounty
LancasterStyle
LandAD ID
50269834
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BuyOwner last updated this listing 06/30/2025 @ 05:14
- MLS: 22517485
- LISTING PROVIDED COURTESY OF: ,
- SOURCE: Great Plains Regional MLS
is a Land, with bedrooms which is for sale, it has 0 sqft, 0 sized lot, and 0 parking. are nearby neighborhoods.