Property Description:
Total building Sq Ft. = 27366 Built in 2008.
Unit 1 (25,800 Sq Ft) $7,700 per month lease. Tenant pays utilities
Unit 2: (1536 Sq Ft) Office space is currently vacant.
Zoning: I-2 Heavy Industrial
Lot Size: 14.73 Acres
Taxes: $18,475.65
Insurance: $12,000 Estimated
Income = $110,400 Per Year
Unit 1 @ $8000 per month = 96,000 Per Year
Unit 2 @ $1500 per month = 18,000 Per Year
Expenses = $41,000
Taxes @ $18475.65 Per Year
Insurance @ $6,000 Per Year
Property Maintenance @ $10,500 Per Year
Net Operating Income = $75,000
Price*: $799,000
Cap Rate (Est) : 9% +
Upside Potential: This property will cashflow from day one and has huge potential for more income with over 14 Acres of land and I-2 Industrial Zoning offering many possibilities.
More pics available soon*
*Note: Price includes contract amount plus assignment fee.