Available For Sale - Office

1,050 SF | Show Pricing $

LISTED BY

Nicholas. Consoles.

AVAILABILITY DETAILS

Size
1,050 SF
Price/SF
Show Pricing $
Listing ID
SA532593
Notes
First floor renovated office condo owned by current owner since 2006. Easy access routes 95, 101 and 1. Parking lot can accommodate your employees and visitors. The layout includes owner's office and conference room. The main office accommodates 4 desks. The galley kitchen includes cabinets, refrigerator, sink, dishwasher and closet. The 2006 dishwasher had a minor recent repair and running like new. Faucet & refrigerator recently replaced. The private bathroom was upgraded over the years and in newish condition. It includes closet storage. There is a common area for copying, faxing, and document assembly. It includes counter space and cabinet storage. Easy access out the rear door to the driveway and dumpsters. The majority of the rewiring was completed in 2006 though some original wiring exists. There is plenty of updated electric and internet wiring for each desk. The ceiling light bulbs were replaced in 2023 with updated energy efficient bulbs. Some ballasts were replaced. About 2 years ago the entire office was repainted and the majority of the carpet flooring replaced with waterproof flooring and tile. The exception is the rear hallway and office. Some floor and baseboard wall trim require completion. Some kitchen and bathroom plumbing have been removed and replaced over the years. The hot water tank was replaced several years ago and is in newish condition. The unit is set up for central air and heat. It's original to the 1987 building but the A/C does not work. The duct work has been inspected and is in working condition. It was cleaned 4 years ago. Several permits were pulled over the years whether required or not to get the inspector's opinion on the completed work. The one level makes it easier to supervise staff and visitors. The 1st floor location is perfect for thoughts who prefer not to use stairs. It does make a difference moving items in & out of the unit. The 3 windows bring some natural light into the unit and allows occupants to see out. The unit is functional, well laid out and in move in condition. I used Bank of America's commercial website calculator to estimate P & I. The SBA 504 Loan Program requires a 10% down payment. Assume financing $224,000, 6% interest (website default) and a 20 year loan the estimated monthly principle and interest expense is $1605. There are many reasons this is for illustration only. The condo fee is approximately $255/month. Taxes are approximately $100/month. You can own your space, control it, build equity, eliminate rent increases and NNN in a building solely designed for professional office space in area much affordable than Portsmouth and in many cases Exeter. The condo fees have not changed in several years. The association feels they have sufficient reserves even without having to raise condo fees for several years. The building's exterior has had a major roof repair and new vinyl siding. The building's units have been subject to water, moisture and mold damage ranging from ice damns to improperly sloping landscaping as has this unit. The association's approach has been to address theses problems as inquired. Mold damage was discovered in this unit January 2018 with related repairs completed December 2022. The association spent $6000 on the exterior and $13,000 on interior repairs. I spent north of $5000 remediating and testing/retesting the unit's air quality. The last air quality test passed in 2022 passed. The dates and dollar amount are approximates. The exterior envelope is an on going project for the entire building. The owner is the seller. He is recommending the buyer to perform their own due diligence by getting an inspection and an industrial hygienist as well as to contact the association directly with their questions. Taxes are 100% paid. The association has a lien on the unit. Seller will have lien removed prior to sale or unit will transfer to buyer debt free. The seller is interested in being transparent in the unit's sale.
Uses
Office

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Nicholas. Consoles.