3429 DERRY STREETHARRISBURG, PA 17111
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Enter an interest rate to see your estimated monthly payment.3429 Derry Street is a Tenant Occupied investment opportunity with over Three (3) Years remaining on the initial Five (5) Year Lease. The Lease is structured as a modified gross where Tenant is responsible for all direct utilities, interior maintenance and exterior upkeep. Owner is reimbursed for water and sewer by Tenant. The Lease currently generates $30,900.00 in annual rent, escalating by 3.00% per year. Operating expenses reported of $6,273.72, creating an in-place NOI of $25,000.00 and a resulting CAP rate of 10.32%. This return rate and Lease structure creates a tremendous investment opportunity regardless of your funding source. Further, notable capital expenditures of roof, electric water heater, natural gas forced air and electric panels were installed in 2018. The Downtown District Zoning of Paxtang Borough generously provides for a multitude of commercial and residential type uses for future value-add opportunities. See marketing brochure for the in-place operating finances of the property.
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