- Joined
- Apr 10, 2008
- Messages
- 107
Hi All,
I have a private sale tied up and would love everyone to pick it apart.
It is a commercial 2 story building with zoning to add a 3rd with comm or residential.
Long term tenants, the anchor tenant is a class a tenant and wants to take over more space as it becomes available. Building is on pape ave in toronto north of danforth in a very high density area that is growing.
Tied up at $1,700,000.00
Currently grosses $205,000/year. Rents are below market. Room to improve as leases expire.
New roof. New heating and cooling systems. All brick, solid building in very good condition.
Expenses are as follows:
Taxes $43000
Insurance $5000
Hydro $2800
Water $3100
Gas $3300
Cleaning $5000
General repairs $10,000
Vacancy amount?? This is a hot area and easy to rent. All tenants but 2 have 2 years min left on leases...some have options. Others do not.
Management will be done by myself.
I haven`t done a deal of this size and Any feedback is appreciated.
I have a private sale tied up and would love everyone to pick it apart.
It is a commercial 2 story building with zoning to add a 3rd with comm or residential.
Long term tenants, the anchor tenant is a class a tenant and wants to take over more space as it becomes available. Building is on pape ave in toronto north of danforth in a very high density area that is growing.
Tied up at $1,700,000.00
Currently grosses $205,000/year. Rents are below market. Room to improve as leases expire.
New roof. New heating and cooling systems. All brick, solid building in very good condition.
Expenses are as follows:
Taxes $43000
Insurance $5000
Hydro $2800
Water $3100
Gas $3300
Cleaning $5000
General repairs $10,000
Vacancy amount?? This is a hot area and easy to rent. All tenants but 2 have 2 years min left on leases...some have options. Others do not.
Management will be done by myself.
I haven`t done a deal of this size and Any feedback is appreciated.