TITLE:
Turn Key Mixed-Use Building
CONTROL:
Partner
VALUE:
$2,950,000
LOAN:
$1,640,000
EQUITY:
$1,310,000
TYPE:
Income Comb.
HAVE:
Well located, highly visible, fully remodeled retail, r&d and office building.
ADDRESS:
400 South Wells Avenue, Reno, Nevada
BENEFITS TO NEW OWNER:
Excellent path to cash upon majority tenant lease expiration on 12/31/26. Reno owner user market is very strong
GROSS SCHEDULED INCOME:
$169,058 Actual
VACANCY LOSS:
$0
GROSS EFFECTIVE INCOME:
$169,058
EXPENSES:
$51,370
NOI:
$117,688
DEBT SERVICE:
$158,400
CASH FLOW:
$-40,712
CAP RATE:
3.99%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$1,640,000
$13,200
10%
02/28/2027
No
BENEFITS SOUGHT:
Dissolve partnership
CAN ADD:
Cash; other buildings; signature.
REMARKS:
Building was fully remodeled in 2021 with all building systems updated. In great condition in a very desirable area. Nothing wrong with the building but partnership has run its course.
COUNSELOR:
John Spinola
Atlas Red Realty
1925 E Prater Way
Sparks, Nevada, 89431
