9 E Bay Street, Not Provided, Not Provided 00000

Property Description

$14.5 MILLION One Montague Place, is a Class B Five (5) story fully leased Office Building situate on a prime location, East Bay Street, Nassau, Bahamas, 100 yards from the ocean. It sits on 1.45 acres or 63,143 sq ft (5,866 m^2) of land, on which the gross building area (GBA) is 56,735 sq ft and has a gross leasable area of 37,076 sq ft (3,444 M2). It was constructed in 2001 and although greater than 15 years old, it is in good condition, thus fits into Class B. Most leases have 2 to 3 yrs remaining. Embassy of Brazil is renewing this year for another 5 yrs. And most if not all of the govt leases will most likely renew for 3 to 4 yrs when they expire The Bahamas economy is healthy and benefits from close proximity to the United States and at its closest point is 53 miles from Bimini to Palm Beach. Its politically stable and is a democracy. Its principal economic drivers are Tourism (over 10 million in 2025 and growing), and Banking and Financial Services. Currently there are $3 billion of foreign investments awaiting Government approval. Property 56,735 SF (GBA) Office Building One Montague Place East Bay Street Nassau, Bahamas Physical Data Total Land 1.45 Acre (63,143 SF) Year of Construction 2001 Gross Building Area (GBA) 56,735 SF Gross Leasable Area (GLA) 37,076 SF Land to Building Ratio 1.11:1 Floor Area Ratio 0.90:1 Zoning Classification is open