NCE National Council of Exchangors
Package Detail
<< Back
National Council of Exchangors
CONTROL: Exclusive VALUE: $4,300,000
    LOAN: $400,000
    EQUITY: $3,900,000
TITLE: FORMER USBANK UNDERWRITING HEADQUARTERS
TYPE OF PROPERTY: Office Building
HAVE: 78,000 sq ft office building on 37 acres in Cleveland, OH area. Now dark but with tenant and Buyer in hand for a Seller Carry deal.
WEBSITE ADDRESS:
PARCEL#:    
CITY, STATE: Bedford, OH COUNTY:
BENEFITS TO NEW OWNER: Opportunity to lease property to prospective tenant and then sell on Seller Carry paper, or take on the project yourself, lease up and sell. This was a $7.5MM building when leased.
GROSS SCHEDULED INCOME: $588,000    Projected
VACANCY LOSS: $0
GROSS EFFECTIVE INCOME: $588,000
EXPENSES: $100,000
NOI: $488,000
DEBT SERVICE: $332,580
CASH FLOW: $155,420
CAP RATE: 11.35%
ENCUMBRANCES: BALANCE: PAYMENT: RATE: DUE: ASSUMABLE:
LOAN 1: $4,000,000 $27,715 4.00% 2020 N
LOAN 2:      
BENEFITS SOUGHT: To get an 80+ year old woman off a $4MM loan on a vacant building.
CAN ADD:
REMARKS: Projected is what USBank was paying.
COUNSELOR: Blake Allen, EMS
Allen Realty
108 Canon ave
Manitou Springs, CO 80829
Phone: (719) 685-0707
Cell: (719) 684-4123
Fax: (719) 685-0400
blakeallenrealty@gmail.com
 
Print