TITLE:
Office and Retail Combo
CONTROL:
Buyers Broker
VALUE:
$1,098,000
LOAN:
$640,000
EQUITY:
$458,000
TYPE:
Income Comb.
HAVE:
Two-story building located right on high-traffic hwy 933 is comprised of 9,804 SF on two floors. Includes 3 vacant lots. Air Conditioning upgraded now.
ADDRESS:
247 Dixie Way, South Bend, Indiana
BENEFITS TO NEW OWNER:
Upside in lease-up.First floor can be demised and configured according to tenant requirement
Ownership investing significant capital into Subject Property to increase curb appeal and desirability
Located on a main commercial corridor @19000+ cars/day
GROSS SCHEDULED INCOME:
$107,841 Projected
VACANCY LOSS:
$59,152
GROSS EFFECTIVE INCOME:
$48,689
EXPENSES:
$13,000
NOI:
$35,689
DEBT SERVICE:
$39,600
CASH FLOW:
$-3,911
CAP RATE:
3.25%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$64,000
$0
0%
03/01/2026
No
BENEFITS SOUGHT:
Manufacturing business. Industrial
CAN ADD:
Cash; expertise, financing
REMARKS:
The first floor has one 1,400 SF suite in the back, ideal for a variety of retail uses such as a fitness center or studio, and a 3,400 SF suite with front visibility suited for restaurant usage. The upstairs 4 finished office suites 828-1336 sqft
COUNSELOR:
Hal Palmer
PDG Services
P. O. Box G
Longview, Washington, 98632
