TITLE:
Three Tenant Mixed Use Investment
CONTROL:
Partner
VALUE:
$1,450,000
LOAN:
$950,000
EQUITY:
$500,000
TYPE:
Retail/Commercial
HAVE:
Three tenant mixed use property. One tenant is a national credit dentist office. The other two tenants have signed new five-year NNN leases and one tenant is investing $100,000 of their own capital into TIs.
ADDRESS:
401 N Woodlawn, Wichita, Kansas
BENEFITS TO NEW OWNER:
New leases and a national credit tenant with reliable cash flow
GROSS SCHEDULED INCOME:
$124,608 Actual
VACANCY LOSS:
$0
GROSS EFFECTIVE INCOME:
$124,608
EXPENSES:
$8,176
NOI:
$116,432
DEBT SERVICE:
$87,000
CASH FLOW:
$29,432
CAP RATE:
8.03%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$950,000
$0
0%
12/31/1969
No
BENEFITS SOUGHT:
Use the equity to go up. Will look at exchange, cash etc
REMARKS:
The partnership has created the value and now wants to use the equity created to go up. The two new leases start in June and August. The NOI will be effective Aug 1. I will provide lease specifics to any interested party.
COUNSELOR:
Phil Graves
Graves Group
15031 East Morris
Wichita, Kansas, 67230
Cell: 316-644-2508
Email blowtorchre@gmail.com
