Description
List price to be opening bid at online only auction. Online registration & bidding begins Saturday, June 4th @ 2:00pm & ends Thursday, June 9th at 2:00pm. Single Tenant Commercial Building with Prime Retail Frontage in Essex. The building contains 3,472+/- SF and is configured as offices for a mental health tenant. The tenant is in year 3 of a 5 year lease and is current on all payments. There is an unpaved parking lot in the rear as well as a 1 car garage. Tenant is responsible for the interior space and pays all utilities. Current gross monthly rent of $3374.59. Current gross annual scheduled rent of $40,495.08. The property was previously used as retail and was demised into 2 units. In the future should the owner want to convert the space back to retail, the rental rate would be significantly higher.
Description
List price to be opening bid at online only auction. Online registration & bidding begins Saturday, June 4th @ 2:00pm & ends Thursday, June 9th at 2:00pm. Single Tenant Commercial Building with Prime Retail Frontage in Essex. The building contains 3,472+/- SF and is configured as offices for a mental health tenant. The tenant is in year 3 of a 5 year lease and is current on all payments. There is an unpaved parking lot in the rear as well as a 1 car garage. Tenant is responsible for the interior space and pays all utilities. Current gross monthly rent of $3374.59. Current gross annual scheduled rent of $40,495.08. The property was previously used as retail and was demised into 2 units. In the future should the owner want to convert the space back to retail, the rental rate would be significantly higher.
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