For Sale
$1,623,000

70 King StChambersburg, PA 17201

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

Overview

Added:
Dec 11, 2024
Days on market:
114
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
70 King St, Chambersburg, Pennsylvania

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70 King St
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