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40.31572 -76.42049

924 RUSSELL DR Lebanon, PA 17042

275088176 40.31572 -76.42049 230 /listing/275088176-150016049/924-russell-dr-lebanon-pa-17042 False 0 925000.0 5400 101 PALN114630 False
  • $925,000
  • 5,400 sqft
  • 1.00 lot
  • Est payment $4965.6/mo

Property & Neighborhood Info

Courtesy Of Suburban Realty

Commercial in LEBANON

Excellent opportunity to own a Modern Office building in a desirable Business Park with Social Security as Tenant. Built specifically for Social Security occupancy. Single tenant, monthly rent automatically deposited. Rent increased 5-23-20. Tenant just received a 5 yr. extension. Scheduled rent increases 21.74% during the extension period (an average of just over 4% per year). Current net operating income of $65,579 is a 7.09% Cap Rate. Annual Real Estate Tax Escalator, Annual CPI adjustment for operating costs. Operating expenses listed are an average of 2015 thru 2019 actual expenses. A purchase at the listed price plus estimated acquisition costs, with projected net income based on scheduled rents, and assuming a $1,125,000 sale price at the end of the extension generates a 10.17% Internal Rate of Return, Owner has relocated out of state and is looking to exchange into and investment in that location.

Courtesy Of Suburban Realty
  1. 5,400 Sq. Ft.
  2. 1.00 Lot

Main Features

  • Listing Status: Active
  • Year Built: 1995
  • Garage: 33.0
  • School District: CORNWALL-LEBANON
  • County: Lebanon County
  • Taxes: $18,801.00
  • Tax Year: 2020
  • Units: 1
  • Zoning: Office Institutional
  • Subdivision: Tuck Business Park
  • MLS Number:PALN114630

Additional Features

  • Air Conditioning:
    • Yes
  • Cooling:
    • Central A/C
  • Cooling Fuel:
    • Electric
  • Flooring:
    • Carpet
    • Ceramic Tile
    • Concrete
    • Vinyl
  • Water Heater:
    • Natural Gas
  • Building Area Source:
    • Estimated
  • Building Square Feet:
    • 6218.00
  • Business Type:
    • Professional
  • New Construction:
    • No
  • Roof:
    • Pitched
    • Shingle
  • Water Source:
    • Public
  • Foundation:
    • Slab
  • Doors/Windows:
    • Double Entry
  • Lot Description:
    • Corner
  • Lot SF Source:
    • Estimated
  • Waterfront:
    • No
  • Parking:
    • Handicap Parking
    • Lighted Parking
    • Paved Parking
  • Electric:
    • 200+ Amp Service
    • 3 Phases
    • Circuit Breakers
  • Expenses Include:
    • Electric
    • Heating/Cooling
    • Insurance
    • Landscaping
    • Management Fees
    • Pest Control
    • Repair/Maintenance
    • Sewer
    • Snow Removal
    • Trash
    • Water
  • Heating:
    • Forced Air
  • Heating Fuel:
    • Natural Gas
  • Sewer:
    • Public Sewer
  • Accessibility Features:
    • 32"+ wide Doors
    • 48"+ Halls
    • Accessible Switches/Outlets
    • Level Entry - Main
    • No Stairs
  • Road Maintenance:
    • Boro/Township
  • Road Surface:
    • Black Top
  • Road Frontage:
    • 361
  • Water Access:
    • No
  • Financing:
    • Cash
    • Conventional
  • Gross Income:
    • 126557.00
  • Gross Income Includes:
    • Professional Offices
  • List Type (Exclusive):
    • Exclusive Right
  • Net Operating Income:
    • 65579.00
  • Owner Pays:
    • All Utilities
  • Rental Features:
    • No
  • Assessment Year:
    • 2020
  • Cap Rate:
    • 6.90
  • MLSSystem ID:
    • BRIGHT
  • Operating Expense:
    • 42317.00
  • Possession:
    • Settlement
    • Subject to Existing Lease
  • Price Per SQFT:
    • 148.76
  • Total Parking Spaces:
    • 33
Neighborhood info courtesy of Homes.com © 2020

What's My Mortgage?

$38,769.95*
*Estimated monthly payment is a starting point to help assist you with your home search. To find out more about mortgage pre-qualification, click here.
Sherri Anderson
Sherri Anderson
REALTOR®
6375 Mercury Dr Mechanicsburg PA 17050
request more info.
40.31572 -76.42049

924 RUSSELL DR Lebanon, PA 17042

275088176 40.31572 -76.42049 230 /listing/275088176-150016049/924-russell-dr-lebanon-pa-17042 False 0 925000.0 5400 101 PALN114630 False
  • $925,000
  • 5,400 sqft
  • 1.00 lot
  • Est payment $4965.6/mo