12.5 CAP RATE!!! ??
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15-Unit C-2 Zoned retail plaza.
Located on a busy 6-Lane Hwy! Fully leased right now and with 1 owner occupied space (owner will stay and pay), and still has over $200k NOI right now!
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This is a chance to own a commercial property without having to fall on your face with rejection from banks!! Most banks want 30pct or more as a down payment, tax returns, excellent credit, etc. Many private money and hard money lenders want 40-50pct down and rates are high as the clouds fly, at around 12-15 pct plus 2-6 pct loan origination! That is nearly 20 pct for the first year! What a waste!!!
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Put just 25pct DOWN PAYMENT ($399,975) and with a low interest rate of just 9.9pct ($9,899 monthly payment) with a balloon payment in 5 years.
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Even after debt service, you can cash flow $80k/year at the current occupancy (one owner occupied office)!! And it will only get better from there with leases having annual rent escalations BUILT-IN. Invest less than $400k down and get back $80k/ year!!!! Or, pay cash and sky is the limit!! It is a great investment no matter which way you look at it! All while your asset is constantly appreciating, and even more since the area is really changing a lot as of lately.
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Contact me today and let’s get the ball rolling in your direction.