Office Space commercial investment investment.
Purchase price: $55,000
Cash invested: $8,800
Purchased the property as an off-market deal. As a broker, sometimes things line up together and investments make sense before the deal goes to market. I was able to pick up the property with a current tenant and immediately buy into cash flow.
What made you interested in investing in this type of deal?
I am a commercial real estate expert, and this was a no-brainer deal.
Congratulations, @Kyle Kelley ! What kind of cashflow are you getting from this property now?
I'm generating $11,400 in gross income and my total expenses are at $4,400 for the year after taxes, insurance, mortgage. I'm taking $7,000 per year. While not a huge income, once the mortgage goes away, I'll be in an even better position. Pretty good for rural western Illinois.
That's great to hear!
How long does the tenant have left on the lease ?
They just renewed a 3-year lease, after being at the property the previous 3 years.
congrats @Kyle Kelley ! Curious about the market, what're are the key demographics and trends that attracted you? Are there other existing commercial properties, or much development happening in that area?
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