TITLE:
Instant Cashflow, Real Returns
CONTROL:
Owner
VALUE:
$4,925,000
LOAN:
$3,447,500
EQUITY:
$1,477,500
TYPE:
Industrial
HAVE:
Finalizing the residual raise for remaining reserves included in our initial $1.85M raise. Bought a 98,595 SF Ind. building in Hastings, MN.
Value Add: current tenant below market rents & from rent and CAM recapture from common areas not being collected
WEBSITE URL:
ADDRESS:
800 East 10th st., Hastings, Minnesota
BENEFITS TO NEW OWNER:
We have successfully begun collecting previously uncollected rents & have started leasing out parking lot space. We have initiated negotiations with 2 existing tenants for five-year market-rate renewals targeted for completion before the end of Q3
GROSS SCHEDULED INCOME:
$715,569 Actual
VACANCY LOSS:
$0
GROSS EFFECTIVE INCOME:
$715,569
EXPENSES:
$344,400
NOI:
$371,169
DEBT SERVICE:
$150,116
CASH FLOW:
$221,053
CAP RATE:
7.54%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$3,447,500
$20,843
7%
04/30/2030
Yes
COUNSELOR:
Eli Weisblum
Hunter Rose Holdings
Woodmere, New York, 11598
