For Sale
$1,623,000

70 King St Chambersburg, PA 17201

NNN Lease, 8% Cap Rate, 7+ Years Remaining

Overview

Added:
Dec 11, 2024
Days on market:
135
This fee-simple investment opportunity presents a 7,800 square foot, single-tenant office building located at 70 W King St, Chambersburg, PA 17201. The property, built in 1900 and extensively renovated in 2023 (over $600,000 in improvements), is currently 100% occupied by a Berkshire Hathaway HomeServices franchisee under a triple-net (NNN) lease. The lease commenced March 1, 2022, and has a remaining term of approximately 7.3 years, extending to March 1, 2032, with a one-year option to renew. The lease includes 2% annual rent escalations, providing predictable income growth. The building is classified as Class B and offers a strong 8.00% cap rate based on a Net Operating Income (NOI) of $129,842. The tenant, a well-established franchise with over 35 locations, recently exercised a five-year renewal option early, demonstrating a significant commitment to the property. This investment offers a stable, passive income stream with long-term occupancy assurance. The property sits on a 0.32-acre lot and is categorized as a Creative, Executive, and Traditional Office space. The asking price is $1,623,000.

Highlights

  • Fee simple ownership of a single-tenant office building with a long-term triple-net lease.
  • 7+ years remaining lease term with 2% annual rent increases.
  • Recently renovated by Berkshire Hathaway HomeServices for over $600,000.
  • Tenant, Berkshire Hathaway HomeServices, operates over 35 locations.

Property Details for 70 King St

Property type
Office properties, Office space
Square Feet
7,800 SF
Class
B
Year Built/Renovated
1900/2023
Buildings
1

Location Insight

City
Chambersburg
County
Franklin
State
Pennsylvania
Latitude
39.9389449
Longitude
-77.6625709

FAQs

What type of property is this?
Office property - NNN Lease, 8% Cap Rate, 7+ Years Remaining
Where is the office property located?
The property is located at 70 King St Chambersburg, PA.
What is the asking price?
The asking price for this property is $1,623,000.
What are key features of this property?
This property features: Fee simple ownership of a single-tenant office building with a long-term triple-net lease.; 7+ years remaining lease term with 2% annual rent increases.; Recently renovated by Berkshire Hathaway HomeServices for over $600,000.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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70 King St
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