| Property Use Type: | Investment |
| Type: | Office
Office Building |
| Building Size: | 14,665 SF |
| Building Class: | B |
| Lot Size: | 24,394 SF |
| Occupancy: | 94.00% |
| Price: | $4,700,000 |
| Price/SF: | $320.49 |
| Year Built: | 1980 |
Property Description: The subject property strategically sits on a prime 24,394 square foot corner and has been well maintained. 45 parking spaces, the subject property provides for an ideal office location. Additionally, the many month-to-month leases and under-market rents presents a significant upside potential to an investor.
| Year: | 2008 | | Scheduled Gross Income: | $368,478 | | Effective Gross Income: | $350,054 | | Operating Expenses: | $138,905 | | Net Operating Income: | $211,149 | | Pre-Tax Cash Flow: | $70,149 | |
Tenancy Type: Multiple
Debt & Equity Information
| Debt Type: | Proposed |
| Loan Amount: | $3,525,000 |
| Interest Rate: | 4.00% |
| Annual Debt Service: | $141,000 |
| Down Payment: | $1,175,000 |
|
| Loan Description: |
| Seller willing to carry up to 75% with an initial interest rate of 4%, interest only, fixed for 5 years. |
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