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Description

The property consists of a 3,000 sf restaurant called The Sunshine Cafe which has been operating at the same location for 16 years. The Seller will sign a brand new 5 year NNN lease at the rate of $0.75 per square foot. This will produce a NOI of $27,000 annually equal to a 9.15% cap rate. This transaction with a 70% LTV at 7.5% interest with 25 years amort, due 5 (loan terms quoted by Commerce West Bank) will produce a 16% cash on cash return which certainly beats a 2% or less bank account return. All this with a seasoned tenant in business for 16 years. Building price details: $295,000.

Property Details

• Type: Retail
• Status: Available
• Year Built: 1950
• Buildings: 1

Exterior Features

• Parking: Yes
• Parking Spaces: 21

Map Locations