1324 Bush River Road

Description:

The former Walmart has been bought by probably the largest computer service company in the world, they spent about $9,000,000 remodeling a large portion for themselves, and are procuring a anchor tenant for the rest and sooner or later one will move in. I just heard that a large church has signed a lease for a large portion as well.
Please note that the operating expenses include a lump sum of about $20,000 per year for roof replacement and is not actually spent but is saved to be used when the roof needs to be replaced as in effect income until expensed. Roof is good for 25 years and was installed in approximately 2007. Also, there is another approximately $20,000 for administration fee, miscellaneous and contingency that could be saved with better sand more effective management.
Capital expenses needed now: Basically none expected. Parking lot is in good shape and needs no repair. Owners replaced 5-7 HVAC roof packaged roof top units that should have 5 year manufacturer warranty and tenants are responsible for All maintenance and repair.
Selle is motivated and already have one offer.
Seller would consider ALL offers.
Seller would consider seller financing IF it is better than cash and is safe and secure with no headache.
Please note that this site is unique and has the following upside potential:
1. Replace the ridiculously low rent of $6.75/SF for two large tenants with market rent of say $13 - $14 to generate at least $4,250 per month.
2. Fill up remaining 8,280 SF at market rate rent of $13 - $14 to generate another $8,625 per month
3. There is a 7 station vacant former franchise beauty salon that can be leased for say $2,000 a month.
4. Provide better on site management, cut expenses and provide more effective marketing to keep the place full.
5. This would generate offset op expense of approximately $3,000.
6. All in all there is a lot of room for improvement and upside and combined should boost the value by approximately $2,000,000 if not more. Please call if you still have any question.

Kind regards,
Sam
407-595-9010