Posted by Hunter on September 06, 2004 at 11:03:06:
Can you email me any additional info? I may have some interest in this deal. Feel free to call me 608-873-9000
120,000 sq ft office flip - Posted by Chris-PA
Posted by Chris-PA on September 02, 2004 at 20:06:25:
Hi I have a contract on a 120,000 sq ft office building in Allentown,PA. Purchase price $1.3 million.It is going to sherriff sale Sept 15th. It is vacant. Avg sale price for office space is $35-$50/ sq. ft., comparable rent $10-$12/ sq ft (80,000 sq ft rentable). Has $1 million in tax liens, water, legal as previous assesment was $8 million. Would like to flip or double close but needs to be done fast. Can it be done? What should my ad say? It has incredible potential but it is out of my league and I couldn’t afford to hold it to get the systems back online and get it up and running. Will appraise for $5 million once systems back on-line.
Re: 120,000 sq ft office flip - Posted by Chris-PA
Posted by Chris-PA on September 07, 2004 at 21:34:30:
We are getting this property at a little over $10/sq ft. The rents in the area for office space are $12-$13/sq ft./yr and purchase price for comparable office space is $50-$75/sq. ft. See allentowndevelopment.com