Park 2400 - Office Suites 3 & 4

Office for Sale
Catylist Listing ID: 30162588
Property Subtypes: Executive Suites, Mixed Use, Office Building, Other
Building Size (RSF): 4,000 SF
Gross Building Area: See Agent
Gross Land Area: 28,967 SF
Sale Price: $265,000
Unit Price: $66.25 PSF
Property Use Type: Investment, Vacant/Owner-User
Building Name: Park 2400
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/19/2018

Overview / Comments

The subject property consists of 2 free standing office buildings, storage building, additional development lot and parking lot on 28,967 sqft of land. The property could be purchased as investment or for owner/user, Suite 3 currently has a lease in place. With the current tenant annual expenses should be covered leaving 2,675 sqft available, at market rates and full occupancy the NOI should increase to provide 8-9% return.

Suite 3 (2406 College Hills) contains 1,325 sqft, originally built in 1968 and remodeled in early 2000's. This is a brick building with reception area, 2 private offices, conference room, small break area and 2 restrooms. Updated with textured walls, tile and suspended grid ceilings.

Suite 4 (2408 College Hills) contains 2,672 sqft with construction approximately 1979. Similar to others with brick exterior and concrete foundation. Built-up flat roof, covered walkway and entrance. Open floor plan with reception area, 1 large private office, 1 large conference room and the majority being open space throughout the building. There are also 2 storage rooms and one consists of additional small 2nd floor finished for additional storage area. Primarily textured and painted with grid ceiling, floor has a mixture of carpet, laminate wood and vinyl.

Storage - to the rear of the property is a wood framed storage building with concrete slab consisting of 807 sqft.

Additional Lot - the additional lot is located next to Suite 4 and could provide future development of an additional 1,500-2,000 sqft if needed.

Additional Details

Nearest MSA: San Angelo
County: Tom Green
Taxing Authority: Tom Green
Tax ID/APN: 06-18500-0053-028-00
Property Visibility: Fair
Site Description: 2 suites consisting of brick exterior, covered walkways and fenced court yard. Paved private parking with access from College Hills Blvd.
Area Description: Surrounded by Park 2400 which offers a variety of retail and office uses. The property is located near the back of the development along the eastern borders.
Total Number of Buildings: 3
Year Built: 1968
Year Renovated: 2000
Roof Type: Flat
Construction/Siding: Brick
Parking Type: Surface
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Water Service: Municipal
Sewer Type: Municipal
Easements: Electric Lines, Ingress/Egress
Legal Description: 0.665 Acres out of Tract A, College Hills Addition, Section 10, City of San Angelo, Tom Green County, TX

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,849 61,291 87,309
Median Age: 35.12 35.26 34.89
Households: 5,511 24,887 33,897
© Copyright Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Catylist nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.