Tuesday, April 24, 2012
We are tracking a just-listed single tenant NNN investment property of a bank in Los Angeles County that looks very attractive. 5.5% cap rate, 8 years remaining on a 10 year lease, two 10 year options to renew, COLA (cost of living increases) of 3% - 5% per year!, $2,695,000. The price is very good for such a high quality and well-located single tenant NNN deal with a corporate signature. Excellent 1031 tax-deferred exchange property. Many multi-family apartment owners are reaping high sales prices for their 50 year old rental properties and exchanging into solid commercial assets such as this for excellent cash flow and more tax-depreciation write offs. Call the MPIRES group for more details soon.