Posted by J on September 12, 2007 at 10:25:40:
Also, the building by itself if it were vacant would only appraise around 450-500K. We need to get a good lender who understands location and a very solid tenant to pre-approve the deal…we have several interested parties but I would like to get it packaged so it is a “turnkey” property purchase.
Commercial Property w/ 84K Annual income NNN - Posted by J
Posted by J on September 10, 2007 at 22:47:31:
I have a property that several interested people want to buy. The price is 795K. The building is 2,000 sq ft in very good location. NNN Lease for single tenant of $7,000/month…the tenant makes a lot of money and he will always stay in this location.
What kind of pre-approval can loan I get set up for a buyer and how much $$$ down will they need to come up with since the mortgage fall out situation.
Re: Commercial Property w/ 84K Annual income NNN - Posted by James
Posted by James on September 20, 2007 at 21:27:49:
Please have your buyer contact us, we can help.
Re: Commercial Property w/ 84K Annual income NNN - Posted by Mike
Posted by Mike on September 11, 2007 at 13:26:30:
The property is undervalued if the monthly rent for the NNN is correct. The property can be easily appraised over a $1 million and more depending on the set cap rate.
Re: what??? - Posted by Brian (NoCA)
Posted by Brian (NoCA) on September 24, 2007 at 22:52:26:
How do you know the property is undervalued without knowing anything about the market? The rent could be above market, or a non-credit tenant, or a relatively short lease term, or long one, etc. It’s misleading to state that the property can be “easily appriased over $1 million”
A 10-11% cap rate is run-of-the mill in the areas I invest, even for commercial NNN tenants.
Re: Commercial Property w/ 84K Annual income NNN - Posted by J
Posted by J on September 12, 2007 at 08:59:02:
The reason for the lower selling price is because it’s a single tenant building in a great location…but in a town under 25,000 people. We want to move the property quickly…so that is whay the price is where it’s at.