Posted by joe salem on February 16, 2004 at 15:40:30:
Ive located a commercial property in ohio on a booming corner
it ia a six unit building built just last year. Its square footage is 9953 and all units are being leased with triple net lease. Now this is in a highly visible and trafficed area. Owner showed me gross income is 331,330. Yearly expenses equal 114,600 with a net operating income of 216,730. They want 637,441 as down payment. Apparently there is a debt service 145,061per year. Leaving a net cash flow of 71,669…add on a prinicpal reduction of 35,069 and a total return 0f 106,738.00 per year, after all that it gets to be a little mind boggling just though i might be able to get a second opinion