NCE National Council of Exchangors
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National Council of Exchangors
CONTROL: Exclusive VALUE: $418,000
    LOAN: $0
    EQUITY: $418,000
TITLE: POTENTIAL RV PARK 50+ UNITS FRONT I-40, NM
TYPE OF PROPERTY: Development
HAVE: 7 Acres next to City Post Office and Ford dealer with I-40 and Rt. 66 Main Street Frontage. All city utility available C-2 Zone. Split as 4 one AC 1 3 AC. Superior location Huge demand.
WEBSITE ADDRESS:
PARCEL#:    
CITY, STATE: Edgewood, NM COUNTY: Santa Fe
BENEFITS TO NEW OWNER: Super opportunity for right user. Huge unmet growing demand in area. Great visibility from Interstate I-40 and fronts Rt. 66 (Main St). Walmart, Smiths, Tractor Supply, etc. close.
GROSS SCHEDULED INCOME: $392,000    Projected
VACANCY LOSS: $32,000
GROSS EFFECTIVE INCOME: $360,000
EXPENSES: $30,000
NOI: $330,000
DEBT SERVICE: $0
CASH FLOW: $330,000
CAP RATE: 78.95%
ENCUMBRANCES: BALANCE: PAYMENT: RATE: DUE: ASSUMABLE:
LOAN 1:      
LOAN 2:      
BENEFITS SOUGHT: Future project for this owner (has a 360 unit RV Park in progress in SE NM). So would roll out of this now as probably about 2 - 3 years before he'll get to it.
CAN ADD: Depends on timing...cash, loans, other commercial and residential land ... GB 98 , development experience, etc.
REMARKS: Income/expenses guesstimates. Seller might stay in deal with right party but does not have time to do project himself (or he'd start now). Will sell all or part. Consider partial trades and carry back
COUNSELOR: Frank Andreone
Coldwell Banker Legacy
6767 Academy NE
Albquerque, NM 87109
Phone: (505) 857-2294
Fax: (505) 212-9380
land4u.nm@gmail.com
 
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