1503 N Center Street new Save Request In-Person Tour Request Virtual Tour
Bonham,TX 75418
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Subdivision No
MLS Listing ID 20794225
Year Built 1950
Annual Tax Amount $6,025
Lot Size 0.369 Acres
Property Description
Fully Leased commercial Building. Leased to State of Texas- Texas Family Initiative for monthly rent of $3600 unit nov 30 -2028 with every year $100 increse in rent . Cap Rate of 6.5. Utilities and maintenance on actuals paid directly by tenant. Repairs to be paid by tenant unless structural.
Rent clause image from lease agreement. Owner Pays Annual Taxes of $6100 -Year & Insurance -$2600 per Year
Fully Reconstructed in 2023 -Independent freestanding building:
New HVAC Systems & duct work 2023 – 10-Year warranty;New Commercial Electrical wiring systems-2023
New Plumbing and ADA restrooms-2023;New Foam insulation-2023;New doors, trims and windows-2023
New Flooring, Painting, door knobs and other finish items-2023;New concrete, sidewalks, parking per approved site plan;New Landscaping
Location
State TX
County Fannin
Zoning Commercial
Interior
Heating Central
Cooling Central Air
Flooring Luxury Vinyl Plank
Exterior
Utilities Available City Sewer,City Water
Roof Type Composition,Wood
Building
Lot Description Corner Lot,Few Trees
Foundation Block
Structure Type Siding,Other
Others
Acceptable Financing 1031 Exchange
Listing Terms 1031 Exchange