Executive Office Centre with 37 Offices
100% Occupancy and 35% ROI - Great For Absentee Owner
Asking Price: $400,000.00
Financing: No Seller Financing
Location: Calgary SW, Alberta, Canada
Annual Sales Revenue: $400,000.00
Absentee Owner - Retiring: Successful executive office centre has been in operation for approximately 30 years in a landmark building just south of Glenmore Trail. No Seller Financing. 100% occupancy.
The office centre is completely rented out with 37 office tenants. We also have 38 mail service/phone tenants. Most tenants are on long term leases and have been with us over a year. There is a very wide variety of categories of businesses and just a few oil and gas related businesses, so we won't see any industry-related hiatus. Most tenants stay an average of 5 years.
The rent goes up by approximately 10% next year, which will be covered by planned, reasonable rent increases. We have a long term lease with an option to renew. We deal directly with the bulding owners and they have been very accommodating, both on lease terms and maintenance issues that have rarely arisen.
Our 3 part time staff members are well trained, courteous and adapt well at solving any tenant challenges that arise, from time to time, on their own. All phone equipment is paid for in full. We have online, cloud-based Customer Reltionship Management (CRM) software for managing tenants and correspondence and use Quickbooks online for accounting.
Our growth strategy is focused on mail and phone service tenants and virtual assistance.