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924 Russell Drive, Lebanon, PA 17042

$795,000

  • For Sale
  • Active
  • Commercial
924 Russell Drive, Lebanon, PA 17042View this property at 924 Russell Drive, Lebanon, PA 17042
924 Russell DriveLebanonPA17042

Property Description

Excellent opportunity to own a Modern Office building with long term, Federal Govt. Agency Tenant. Built specifically for local Social Security Office occupancy. Single tenant, Monthly Rent automatically deposited. Three years remaining on current renewal option. Current net of $50,628 is a 6.37% cap Rate. Gross Rent increases $5,400. at start of 4th year, boosting the Cap Rate to 7.05% for years 4 & 5. Annual tax escalator, and operating cost adjustments. Seller has retired, relocated to Virginia and plans to exchange into a residential rental there. Operating Expenses listed are an average of 2013 thru 2017 actual expenses.

Full Property Detailsfor 924 Russell Drive

General

  • Price: $795,000
  • Taxes: $17,680 (2018)
  • Status: Active
  • Type: Commercial
  • MLS ID: 1002664507
  • Updated: 6/5/2018
  • Added: 434 day(s) ago

Business

  • Business Type: Professional/Office

Interior

  • Flooring: Carpet, Ceramic Tile, Vinyl

Additional Information

  • Other Features: Private Restrooms, Public Restrooms

Parking

  • Total Spaces: 33
  • Parking Type: Parking Lot
  • Other Parking Total: 33
  • Parking: Private 11+ Spaces

Location

  • Area: North Cornwall Twp (13226)
  • County: Lebanon
  • Development Name: Tuck Business Park
  • Subdivision: Tuck Business Park
  • Driving Directions: From Cornwall Rd., take Russell Drive to third property on left.
  • Location Details: Corner Lot/Unit

Community

  • Assoc. Fees Include: Other

Heating & Cooling

  • Central air: Yes
  • Cooling Type: Central A/C
  • Cooling Fuel: Electric
  • Heating Type: Forced Air
  • Heating Fuel: Natural Gas
  • Water Heater: Natural Gas

Utilities

  • Sewer: Public Sewer
  • Water: Public

Structural Information

  • Construction: Masonry, Brick, Dryvit
  • Foundation: Slab
  • Roof: Pitched, Shingle
  • Stories/Levels: 0
  • Current Bldg. Use: Office
  • Office: 5,400 Sq. Ft.
  • Year Built: 1995
  • Year Built Source: Estimated

Lot Features

  • Lot Size (Acres): 1
  • Lot Size (Sq. Ft.): 43,560
  • Lot Size Source: Assessor
  • Lot Dimensions: 361 x 249 x 240
  • Frontage Feet: 361
  • Street/Road Desc.: Black Top
  • Topography: Level
  • Lot Features: Road Frontage
  • Zoning: OFFICE-INSTITUTIONAL
  • Lot Description: Road Frontage

Financial Considerations

  • Price Per Sq. Ft.: $127.85
  • Operating Expenses: $38,504
  • Assessment Year: 2018
  • Tax w/Assessment: $907,000
  • Tax Amount: $17,680
  • Tax Year: 2018

Disclosures and Reports

  • Ownership: Fee Simple

Listed by Suburban Realty, David Simpson

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Schools

Schoolsserving 924 Russell Drive

School District:Cornwall-Lebanon School District
School Name
Grades
Distance
South Lebanon Elementary School
1825 South Fifth Avenue, Lebanon, PA 17042
K-5
2.8 mi
Cedar Crest Middle School
115 E Evergreen Rd, Lebanon, PA 17042
6-8
1 mi
Cedar Crest High School
115 E Evergreen Rd, Lebanon, PA 17042
9-12
1.2 mi
Disclaimer: School data provided by Pitney Bowes. School attendance boundaries are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History

Price & Sales Historyfor 924 Russell Drive Get Price Alerts

Date
Details
Price
Change
Source
5/24/2018
Price Reduced
$795,000
-6.47%
MLS
11/11/2017
Price Reduced
$850,000
-5.56%
MLS
4/12/2017
Listed
$900,000
MLS
Disclaimer: Historical sales and tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Community Info

Community Infofor 924 Russell Drive

Listed by Suburban Realty, David Simpson

924 Russell Drive, Lebanon, PA 17042 (MLS# 1002664507) is a Commercial property. 924 Russell Drive is currently listed for $795,000 and was received on April 12, 2017. Want to learn more about 924 Russell Drive? Do you have questions about finding other Commercial real estate for sale in Lebanon? You can browse all Lebanon real estate or contact a Coldwell Banker agent to request more information.