Opportunity to purchase off-market retail building in a desireable area of Ohio.
2.25 acres of land in heavy traffic, high median income retail corridor with 10,000 S/F, well-built, commercial building. Additional details can be discussed once a non-disclosure is signed.
- $1,350,000 total investment. Selling 30% for $350,000. My partner and I have several significant investments in process currently and are expending a large amount of capital. This is the reason for the small raise.
- This investment will cover the following:
- Purchase of the property ($600,000).
- TI allowance of $100,000 for a 6,000 S/F tenant we will have under lease at closing. This is an 8 year lease at $6,600/month.
- $75,000 in reserve.
- Splitting of the 2.25 acre parcel into 1 acre (Parcel A) and 1.25 acre parcel (Parcel B)
- Re-grading of parcel B.
- Building infrastructure for 100 storage units on this parcel.
- Total investment includes the cost to build the first 35 (all 10x20).
- Solicitation and brokers fees to secure 4,000 S/F tenant.
- My partner and I guarantee 10% returns after year 1 (projecting 16% not including equity buy down of the note and built in appreciation once tenant is moved in).
If interested text Dave at 614-558-0061. If we do not complete the raise by 12/31/2018 the building and land (without any of the above improvements) will go on the open market for $999,000 by itself.
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