TITLE:
F&C CHINESE BUFFET RESTAURANT SOCORRO, NM
CONTROL:
Owner
VALUE:
$400,000
LOAN:
$0
EQUITY:
$400,000
TYPE:
Retail/Commercial
HAVE:
This is a 3,462 sf free-standing building on .464 AC of land; one of the best corners in Socorro, NM; next door to Pizza Hut & across the street from vacant Smith's Grocery Store. Built to suit for this tenant 15+ years ago. Can Add $400,000
ADDRESS:
900 N California St, Socorro, New Mexico
BENEFITS TO NEW OWNER:
F/C, 3,462 sf freestanding building. Takes very little management. Leased through Dec 2021. New Lease Rate is $3100/month Month to Month. Current offer of $400,000 all paper is available. Can Add Cash
GROSS SCHEDULED INCOME:
$37,200 Actual
VACANCY LOSS:
$0
GROSS EFFECTIVE INCOME:
$37,200
EXPENSES:
$6,661
NOI:
$30,539
DEBT SERVICE:
$0
CASH FLOW:
$30,539
CAP RATE:
7.63%
BENEFITS SOUGHT:
Find local property in Colorado or partner with you in your transaction
CAN ADD:
Cash or debt of equal amount
REMARKS:
There is a current offer for the restaurant that consists of a Note secured against other property. Can Add $400,000
COUNSELOR:
Ted Blank
Ted Blank & Assoc., Inc.
6825 Vista Lodge Loop
Castle Rock, Colorado, 80108
Cell: 303-748-9998
Email blank1031@gmail.com
