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| Name: |
Milford Park Tech Center |
| Address: |
400 Techne Center Drive, 50 W. Techne Drive, 25 Whitney Drive |
| City: |
Milford |
| State: |
OH |
| Price: |
$13000000 |
| Price/Sq ft : |
$52.82/square foot |
| Cap: |
8.08% |
| Description: |
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| The subject offering consists of one office building and two office/flex buildings located in the Eastern Suburbs of the Cincinnati MSA. The Park 50 office park was developed in the 80's by Duke Realty Trust and consists of approximately 705,000sq/ft. The park was sold off to several investors in the mid-90's including the current owner of the subject properties. The subject properties are currently 31% vacant, though overall occupancy in the market is at 80%. Rents are at or below the market. The buildings are of the same vintage and in similar condition to others in the market. The buildings are priced at a 8.08% cap rate with a tremendous opportunity to capture investment upside through lease-up. The property is being sold subject to assumption of an existing loan balance of $10,697,602 and requires a downpayment of 18%. This allows for initial cash-on-cash returns of 10.99%. |
Write an Offer Today! |
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| The representations contained on this internet page are provided based on information deemed reliable. However, the same has not been independently verified. Principals are advised to conduct a thorough due diligence for any potential transaction. Marcus & Millichap Real Estate Investment Brokerage Company's name and logo are used herein for information purposes only. |
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