118 Atlantic Ave Ocean View, DE 19970

This exceptional investment opportunity presents a fully leased, Class B medical office building located at 118 Atlantic Ave, Ocean View, Delaware, 19970. The property, built in 2004 and renovated in 2018, encompasses 4,000 square feet across a single story on a 0.75-acre lot. Currently boasting 100% occupancy with two corporate-guaranteed tenants, the building offers a stable income stream with a 7.61% cap rate and a net operating income (NOI) of $47,580. The lease is a Net Net Plus (NN+) structure, with tenants responsible for all association dues. The current lease term extends until May 31, 2025, with a remaining term of approximately 0.5 years. The property features eight parking spaces and is zoned CC. Each of the two units is priced at $312,500, with a total asking price of $625,000, or $156.25 per square foot. The lease commenced on April 8, 2019, and includes rent bumps. This value-add investment presents a strong opportunity for passive income generation in a desirable location. The property's strong tenant base and favorable lease terms make it an attractive option for investors seeking a stable and high-yielding asset. The building's location in Ocean View, Sussex County, Delaware provides easy access to major transportation routes and a thriving local community. This is a rare opportunity to acquire a well-maintained, income-producing medical office building with significant upside potential.