Bank REO sale of the 1280 Building at Headquarters at Gateway Lake. This is a class B, three story, 33,695 SF office property in a beautiful lakeside office park setting. A clean, modern glass facade and lush landscaping welcomes tenants and visitors alike. Many of the suites have private terraces with expansive views of the golf course and the 20 acre Gateway lake. The property features a door control access system for privacy and added layer of security. The property is situated on an 82,868 SF lot, allowing for ample parking throughout.

In the proforma financial analysis, the income was run throughout the building and assuming the following rents: $9.75/PSF for spaces up to 2,000 SF, $9.50/PSF from 2,000-3,000 SF and $9.25/PSF for spaces exceeding 3,000 SF. The Property is currently 42.25% vacant with existing tenants paying well above market. The property is currently assessed at $3,332,910 ($99/SF).

Location Description:

The property is located in the Gateway submarket between I-95 and the Florida Turnpike just north of Cypress Creek Road, which is a major east-west artery. Abundant amenities nearby include restaurants, banks, hotels, shops and two public golf courses. Adjacent to the property is a newer freestanding Publix which caters to the densely populated residential developments in the immediate area.

Highlights:

>> Bank REO Sale

>> +/- 33,695 Total Square Feet

>> Most Professional Uses Permitted

>> Beautiful Golf Course & Lake Views

>> Control Door Access for Added Privacy & Security

>> Many Recent Capital Improvements, Including New Landscaping, Paint, and Parking Lot Re-Surfacing

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Sales Info:

>> Cap rate: -2.26%

>> NOI: $-56506