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Serious Investors - 1.15m Office Bldg

Serious Investors - 1.15m Office Bldg
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Posted By:
Shirley Wilson
Posting ID:
Tampa, Fl
 commercial   office   bulding   investment   story 
Listing Type:Commercial For Sale
Living Area:52000 Sq Ft

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4 Story Office Bldg.

900k Available Financing /Includes 350k Escrow Repair Fund, w/665K + 3% Bird Dog Fee Down At Closing!

Direct Capitalization Summery
at Stablized Occupancy
Potential Gross
Income $331,177
Less: Vacancy and Collection
Loss (20%) ($66,235)
Effective Gross
Income $264,942

Reserves ($.30/sl) ($15,637)
Expense (5%) ($13,.247)
Total Expenses $28,884
OER 10.90%

Net Operating Income $236,058
CAPITALIZATION OF NOI @ 11%: $2,145,981
Value Estimate - As If stabilized
(Rounded) $2,150,000

Less Cost to Achieve Stabilized
Occupancy ($354,970)
Value Estimate - As Is $1,795,030
Value Estimate - As Is Rounded $1,800,000

***This Deal Will Not Last Long***

This property was taken back in a foreclosure by my client and is being sold at 62% of it's recent appraised value. This property is currently vacant and has been used as a church facility, banking facility. Financing is available for this property through private sources up to 900k and will include a 350k Renovation Fund to be held in escrow. The purchase will require $665,000 down which will include down payment, closing costs, fees, title etc... and 3% Bird Dog Fee. Terms of the the loan will be a 700k 1st lien @12%/2 year I/O and a 200k 2nd, 15%/10 Year Amortized. If you are interested in acquiring this property please contact Shirley Wilson at above email address. Serious inquires only!

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