Over the past two years, I have improved the rents and replaced several Tenants. This project is now stabilized and will be easy to manage. I offer my continued assistance for the future.
The largest space in the building has a month-to-month tenant that has been in place for a decade or so. The business is for sale, and as of right now, they don't want to commit to a long-term lease. I have a lot of interest in the space, but I want to allow an owner-occupant to buy the building.
I have that space listed for $9/SF on a NNN lease, and have calculated the income from that space at $7.50/SF, as that price is fairly easy to achieve.
The owner would be willing to Seller-Finance with a strong buyer and adequate terms.
Approximate Terms:
Purchase Price: $1,400,000
Down Payment: $280,000 (20%)
Seller Financing: Balance of $1,120,000 carried by Seller
Interest Rate: 6.00% (amortized over 300 months)
Balloon Payment: 5 years (60 months)
Payment: $7,216.18
Cash Flow after debit service: $43,570