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Ash Patel
  • Full time investor
  • Cincinnati, OH
303
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400
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strip mall value?

Ash Patel
  • Full time investor
  • Cincinnati, OH
Posted Feb 2 2015, 08:39

I am purchasing a strip mall for in Ohio.  

FACTS:

  1. Roughly 10,000 sq ft 
  2. 33 parking spaces
  3. very busy road - great signage/visibility
  4. surrounding areas can be questionable (growing subsidized housing)
  5. 3 long term tenants (subway, metro PCS, optometrist)
  6. Optometrist currently owns building and occupies 70% of space.  They will sign a 5 years lease
  7. triple net lease but I pay all expenses then get reimbursed from tenants every month
  8. I make a 15% management fee on all of the triple net expenses
  9. Yearly net income - $114,000 

Can you give me an idea of what this property should sell for?

THANK YOU ALL!!!!!

Ash

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