TITLE:
10 YEAR ABSOLUTE NET LEASE TIRE STORES
CONTROL:
Owner
VALUE:
$1,325,000
LOAN:
$900,000
EQUITY:
$425,000
TYPE:
Retail/Commercial
HAVE:
Two property portfolio. 10 Year Absolute NNN - same owner/operator. Same tire shops have operated for decades with strong financials (sub 8% rent/sales). +/- 28K sft of improved property.
ADDRESS:
3801 N Broadway, Muncie, Indiana
BENEFITS TO NEW OWNER:
Long term absolute net lease w/ zero LL responsibilities. Priced 1/3 of replacement cost. 30% below market rent. Tenant has been at locations for decades. Personal Guaranteed lease. Absolute mailbox money.
GROSS SCHEDULED INCOME:
$86,000 Actual
VACANCY LOSS:
$0
GROSS EFFECTIVE INCOME:
$86,000
EXPENSES:
$0
NOI:
$86,000
DEBT SERVICE:
$0
CASH FLOW:
$86,000
CAP RATE:
6.49%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$900,000
$5,400
5%
12/31/1969
Yes
BENEFITS SOUGHT:
Activate equity - owner wants to either cash out and move onto new project, or move up into something with upside.
CAN ADD:
Cash ($100-200K) plus new financing of 3x ($1.5-2.5M deal). Creative owner. Ask...
REMARKS:
Owner could potentially take in a small land/note equity for partial consideration. Great 1031 property.
COUNSELOR:
Tyler Nepote
Wedgewood Capital Partners
125 N Market Ste 1735
Wichita, Kansas, 67202
