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<< Back
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National Council of Exchangors
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CONTROL:
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Exclusive
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VALUE:
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$418,000
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LOAN:
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$0
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EQUITY:
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$418,000
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TITLE:
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POTENTIAL RV PARK 50+ UNITS FRONT I-40, NM
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TYPE OF PROPERTY:
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Development
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HAVE:
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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.
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WEBSITE ADDRESS:
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PARCEL#:
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CITY, STATE:
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Edgewood, NM
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COUNTY:
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Santa Fe
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BENEFITS TO NEW OWNER:
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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.
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GROSS SCHEDULED INCOME:
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$392,000
Projected
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VACANCY LOSS:
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$32,000
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GROSS EFFECTIVE INCOME:
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$360,000
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EXPENSES:
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$30,000
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NOI:
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$330,000
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DEBT SERVICE:
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$0
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CASH FLOW:
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$330,000
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CAP RATE:
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78.95%
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ENCUMBRANCES:
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BALANCE:
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PAYMENT:
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RATE:
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DUE:
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ASSUMABLE:
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LOAN 1:
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LOAN 2:
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BENEFITS SOUGHT:
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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.
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CAN ADD:
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Depends on timing...cash, loans, other commercial and residential land ... GB 98 , development experience, etc.
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REMARKS:
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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
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COUNSELOR:
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Frank Andreone
Coldwell Banker Legacy
6767 Academy NE
Albquerque, NM 87109
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Phone: (505) 857-2294
Fax:
(505) 212-9380
land4u.nm@gmail.com
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