SOLD144,000+/- Sq.Ft. RETAIL STRIP Shopping CENTER
Listing ID:
59727114438
Last Updated:
11/30/2011
Property Type(s):
Shopping Center: Convenience/Strip Center
Property Use Type:
Any Use (Investment/ Business/ Vacant/Owner-User/)
Tenancy Type:
Multiple
Property Address:
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Central, NJ 00000, US
Contact
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Price
Asking Price:
$
1,999,000
Opinion of Value:
$
2,800,000
Property Size
Gross Leasable
Area (GLA):
144,000
square feet
Land Plot Lot Size:
14
acres
Investment Type:
Value Add
Percent Occupied:
27
%
Number of Tenants:
Property Details
Property Description:
144,000+/- Square Foot RETAIL STRIP SHOPPING CENTER ON 14 ACRES +/-.
Tenants include Restaurants, Beauty/tanning/nail Salon, Karate studio, Dental office and more.
Property Location:
Close to transportation, shopping, entertainment
Highlights:
· Only $148 PSF 10% current cap rate 44.7% Projected Cap Rate!!!
· 73% 104,700 SF Vacant
· 27% 39,495 SF Occupied
· 4.77 x GRM
· $191,097 Current Net Income
· $831,327 Projected Net Income
Property Financials
(This Income/Expense Information is
Proforma
)
Annual Income
Analytical Calculations
Scheduled Gross Income, Annually:
$
400,500
Gross Rent Multiplier:
4.99
less Vacancy:
Capitalization Rate:
44.64
%
Reimbursement:
Other Income: Vacant Projected
$
700,800
a.
Effective Gross Income, Annualy:
$
1,101,300
Annual Expenses
Analytical Calculations
Management: On Site
$
10,732
Maintenance:
$
23,988
Taxes:
$
98,210
Insurance:
$
48,860
Price per square foot (building):
$
14
Heating:
$
0
Price per area of land plot:
$
142,786
Electric
$
8,290
Sewer: Septic Pump
$
3,123
Water test well
$
2,500
Trash removal
$
13,200
b.
Total Annual Expenses:
$
208,903
Annual Net Financials
c.
Net Operating Income, Annually
$
892,397
d.
Annual Debt Service:
$
e.
Other Annual Capital Costs:
$
Pre Tax Cash Flow, Annually
$
Financing Information
This Loan is
Proposed
.
Tenant Information
Tenant Name
Lease End
(i.e. mm/dd/yyyy)
square
feet
Property Attachments
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Description
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