1031Exchange Property. How about a 6% CAP. Great Anchor Tenant (MIDDLE VILLAGE) $3575000 12000ft2

*THIS IS NOW BY FAR THE BEST AVAILABLE PROPERTY ON THE MARKET TODAY.
12,000 SQ.FT.”COMMERCIAL CONDO” ON METROPOLITAN AVENUE WITH 6 CAR SPOTS.
OWNER ILL AND NEEDS TO SELL. THEREFORE ASKING PRICE BELOW MARKET FOR QUICK DEAL.
TENANT POSITIVE BEGINNINGS NURSERY SCHOOL.
CURRENT RENT PER MONTH $16,500.00 DOLLARS/ OR $198,000 YEARLY.
THEIR LEASE IS UP ONCE AGAIN NEXT YEAR. CONSERVATIVE MARKET RENT IS $20,000 DOLLARS PER MONTH
THEY ARE PAYING, $16,500.00 NOW. THE ASKING PRICE IS $3,575,000
USING THAT FIGURE AND PURCHASE AT $3.3 MILLION YOUR CAP RATE IS 6%
YEARLY RENT NOW IS $198,000. PURCHASING AT $3.3 MILLION IS 16.6 TIMES RENT ROLL
NEXT YEAR PROJECTED RENT ROLL IS $20,000 MONTHLY OR $240,000 YEARLY.
THAT BRINGS YOUR PURCHASE PRICE PAYMENT DOWN TO 13.75 X’S INCOME.
7252 Metropolitan Ave Middle Village, NY 11379
COMMERCIAL CONDO FOR SALE
12,000 SQ.FT.
INCLUDES 6 PARKING SPACES
Asking Prices $3,575,000 million dollars
$291.00 per sq.ft. (FINDING COMMERCIAL PROPERTY TO BUILD ON+PAYING $350.00 PER SQ.FT. WOULD COST YOU OVER $5 MILLION DOLLARS TODAY)

Licensing held by Landlord regarding School permits

Presented by:
JIM TURANO/BROKER*DIVERSE Real Estate* show contact info


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