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Updated over 3 years ago on .

Alan Bostick's profile image
Alan Bostick's profile image
Alan Bostick
  • Homeowner
  • from Orrville, ohio
  • Member since Sep 17, 2021
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User Stats

71
Posts
31
Votes
Alan Bostick's profile image
Alan Bostick's profile image
Alan Bostick
  • Homeowner
  • from Orrville, ohio
  • Member since Sep 17, 2021
Connect
Alan Bostick
  • Homeowner
  • Orrville, OH
31
Votes |
71
Posts
Buying & Selling Real Estate

Store front property

Alan Bostick
  • Homeowner
  • Orrville, OH
Posted

I have found a store front property that is FSBO in an historic district of town in the Greater Akron Ohio areas, asking 550k. Seller has 100% equity and is mom and pop owner. 8/9 units occupied. The basic numbers seller has provided without letter of intent is 95k annual rents, 25k annual expenses. From my knowledge the area Cap rates are between 12-15%. If I did the math right I believe this property is selling at 12 cap. Given if these numbers are accurate would this be a worthwhile investment? What other details should I be looking for in assessing this property?

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