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Unit Size: 1,136 SF
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Condo Use: Medical Office
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Price: $220,000 USD
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Sale Type: Investment or Owner User
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Price/SF: $193.66 USD
Description
**** OWNER FINANCING****
Towne Lake Business Park located in Towne Lake Woodstock, GA Professional office park with professional Dentist, Orthopedic practice, Attorneys, CPA, Med Spa, Autism Center for Children an35d many other businesses
Medical Office Space was built out for a Dermatology practice with hospital grade wiring & plumbing. Lease rate is $1,500 a month includes CAM $15.85 SF/Y offered for a 3-7 year lease. ***OWNER PAYS REAL ESTATE TAXES*** The office space is in excellent move in condition, custom cabinets, undercabinet lighting, speakers & volume controls in every room, new paint, furnace & A/C coil, hot water heater 2022, LED recessed lighting. New office added for physician's office or practice manager.
Tenants pay gas, electric, water billed quarterly. WIFI ( comcast business) & Security System are available if wanted, dumpster provided for trash. NO RESERVE PARKING.
***UNIT IS NOT OCCUPIED CURRENTLY BUT IS BEING ADVERTIZED FOR LEASE ON LOOPNET*** HAS BEEN LEASED SINCE 1999***
*** Contact owner for commission rate***
Sale Notes
****OWNER FINANCING ONLY- NO CASH BUYERS**** $76,000 invested for medical build out.
Sales Price $220,000- $33,000 Down Payment-Mortgage Amount $187,000
10 year fixed rate 6.5%
20 Year Amortization Schedule with 10 year Balloon balance $122,058
P&I- $ 1,394 Monthly -Total Yearly Payment $16,728
CAM- $198
TOTAL: $1,592 Required monthly, other fees can be paid yearly
YEARLY WRITE OFFS:
Interest 1st Year- $11,835
CAM- $198.00 x 12= $2574
Taxes- $ 162.50 x 12= $1951
Ins.- $ 13.00 x 12 = $156
TLCA- $ 13.89 x 12= $167
(Towne Lake Commercial Association)
Depreciation: 39 years -Land Value 75,000
Bldg. Value: $145,000 /39 = $3,718 Depreciation per year
TOTAL WRITE OFFS FIRST YEAR : $16,683
Rental Income When Leased: $18,000
Other Expenses:
CAM- $198.00 x 12= $2376
Taxes- $ 162.50 x 12= $1951
Ins.- $ 13.00 x 12 = $156
TLCA- $ 13.89 x 12= $167
(Towne Lake Commercial Association)
NOI: $13,350
Cap Rate: 6.07%
