unique mix-use investment opportunity central downtown
UNIQUE MIX-USE INVESTMENT OPPORTUNITY CENTRAL DOWNTOWN CHATHAM LOCATION 202 KING STREET WEST
FEATURES:
Central Location in Historic Downtown of Chatham-Kent Excellent Condition Class “A” Building With Ample Outside Parking Occupancy: Lower Level is Occupied by a Medical Office, 12 Residential Apartments Being Constructed on Main and Upper Levels Zoning: UC(CBD) - Central Business District Rare, Completely Updated 12-Plex with Commercial Component New State-of-the-Art HVAC, Security System, Fiber-optic Cables Elevator Access to 4 Levels, Including Spacious Rooftop Patio
PRICE: $2,300,000 HomeLife/Bayview Realty Inc., Brokerage
UNIQUE MIX-USE INVESTMENT OPPORTUNITY CENTRAL DOWNTOWN CHATHAM LOCATION 202 KING STREET WEST
GREAT POTENTIAL FOR INCOME Unique opportunity to own a perfect investment property in historic downtown Chatham. A 3-story Class "A" Commercial building is being transformed into profitable Mix-use property containing 12 condo-style apartments on upper and main level, with a AAA commercial tenant on the lower level. 10 - 2BD and 2 - 1BD units. Reconstruction project completes May 2018. You have a chance to buy it before the leases are in, and get a potential 10% Cap Rate property at a bargain price. The Expected Net Operating Income is Around $230,000. The Price is $2,300,000.00, Providing an Estimated 10.08% Cap Rate
For More Information Please Contact: KIRILL PERELYGUINE SALES REPRESENTATIVE HOMELIFE/BAYVIEW REALTY INC.,BROKERAGE O: 905-889-2200 D: 647-833-6542 [email protected]
BRIAN PEIFER BROKER OF REKORD ROYAL LEPAGE PEIFER REALTY.,
BROKERAGE O:519-354-5470 D: 519-436-2669 [email protected]
THE PROPERTY IS UNDER A CO-LISTING AGREEMENT BETWEEN HOMELIFE/BAYVIEW AND ROYAL LEPAGE PEIFER
UNIQUE MIX-USE INVESTMENT OPPORTUNITY CENTRAL DOWNTOWN CHATHAM LOCATION 202 KING STREET WEST INCOME PROJECTION CURRENT GROSS RENT (Commercial) LOWER LEVEL 137,900 MAIN LEVEL 0 UPPER LEVEL 0 GROSS RENT PROJECTION (Scenario 1) Luxury Lofts (Rents At Regular Market Value) LOWER LEVEL $137,900.00 MAIN LEVEL: 3 2-BD APARTMENTS $1300 PER MONTH
2015 2016
108,517 110,161
GROSS RENT PROJECTION (Scenario 2) Luxury Lofts (Rents Slightly Above M.V.) LOWER LEVEL $137,900.00
46,800.00
MAIN LEVEL: 3 2-BD APARTMENTS $1500 PER MONTH
36,000.00
3 1-BD APARTMENTS $1200 PER MONTH
43,200.00
UPPER LEVEL: 6 2-BD APARTMENTS $1300 PER MONTH
93,600.00
UPPER LEVEL: 6 2-BD APARTMENTS $1500 PER MONTH
108,000.00
TOTAL
$314,300.00
TOTAL
$343,100.00
Residential Vacancy(5%) Expenses
$8,820.00 $101,068.00
Residential Vacancy(5%) Expenses
$10,260.00 $101,068.00
NOI (Projected)
$204,412.00
NOI (Projected)
$231,772.00
Cap Rate (Projected)
8.89%
Cap Rate (Projected)
10.08%
3 1-BD APARTMENTS $1000 PER MONTH
$176,400.00
EXPENSES
$205,200.00 54,000.00
This is a confidential memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of this Property. All financial projections and information are provided for general reference purposes only and are from sources believed to be reliable, no warranty or representation is made as to the accuracy with the information being subject to errors, omissions, conditions, withdrawal or other changes without notice and any assumptions relating to the general economy, market conditions, competition and other factors are beyond the control of the Owner and HomeLife/Bayview Realty. All projections, assumptions and other information provided and made herein are subject to variation and should not be relied upon. Independent verification of this information is encouraged.
FEATURES:
Central Location in Historic Downtown of Chatham-Kent Excellent Condition Class “A” Building With Ample Outside Parking Occupancy: Lower Level is Occupied by a Medical Office, 12 Residential Apartments Being Constructed on Main and Upper Levels Zoning: UC(CBD) - Central Business District Rare, Completely Updated 12-Plex with Commercial Component New State-of-the-Art HVAC, Security System, Fiber-optic Cables Elevator Access to 4 Levels, Including Spacious Rooftop Patio
PRICE: $2,300,000 HomeLife/Bayview Realty Inc., Brokerage
UNIQUE MIX-USE INVESTMENT OPPORTUNITY CENTRAL DOWNTOWN CHATHAM LOCATION 202 KING STREET WEST
GREAT POTENTIAL FOR INCOME Unique opportunity to own a perfect investment property in historic downtown Chatham. A 3-story Class "A" Commercial building is being transformed into profitable Mix-use property containing 12 condo-style apartments on upper and main level, with a AAA commercial tenant on the lower level. 10 - 2BD and 2 - 1BD units. Reconstruction project completes May 2018. You have a chance to buy it before the leases are in, and get a potential 10% Cap Rate property at a bargain price. The Expected Net Operating Income is Around $230,000. The Price is $2,300,000.00, Providing an Estimated 10.08% Cap Rate
For More Information Please Contact: KIRILL PERELYGUINE SALES REPRESENTATIVE HOMELIFE/BAYVIEW REALTY INC.,BROKERAGE O: 905-889-2200 D: 647-833-6542 [email protected]
BRIAN PEIFER BROKER OF REKORD ROYAL LEPAGE PEIFER REALTY.,
BROKERAGE O:519-354-5470 D: 519-436-2669 [email protected]
THE PROPERTY IS UNDER A CO-LISTING AGREEMENT BETWEEN HOMELIFE/BAYVIEW AND ROYAL LEPAGE PEIFER
UNIQUE MIX-USE INVESTMENT OPPORTUNITY CENTRAL DOWNTOWN CHATHAM LOCATION 202 KING STREET WEST INCOME PROJECTION CURRENT GROSS RENT (Commercial) LOWER LEVEL 137,900 MAIN LEVEL 0 UPPER LEVEL 0 GROSS RENT PROJECTION (Scenario 1) Luxury Lofts (Rents At Regular Market Value) LOWER LEVEL $137,900.00 MAIN LEVEL: 3 2-BD APARTMENTS $1300 PER MONTH
2015 2016
108,517 110,161
GROSS RENT PROJECTION (Scenario 2) Luxury Lofts (Rents Slightly Above M.V.) LOWER LEVEL $137,900.00
46,800.00
MAIN LEVEL: 3 2-BD APARTMENTS $1500 PER MONTH
36,000.00
3 1-BD APARTMENTS $1200 PER MONTH
43,200.00
UPPER LEVEL: 6 2-BD APARTMENTS $1300 PER MONTH
93,600.00
UPPER LEVEL: 6 2-BD APARTMENTS $1500 PER MONTH
108,000.00
TOTAL
$314,300.00
TOTAL
$343,100.00
Residential Vacancy(5%) Expenses
$8,820.00 $101,068.00
Residential Vacancy(5%) Expenses
$10,260.00 $101,068.00
NOI (Projected)
$204,412.00
NOI (Projected)
$231,772.00
Cap Rate (Projected)
8.89%
Cap Rate (Projected)
10.08%
3 1-BD APARTMENTS $1000 PER MONTH
$176,400.00
EXPENSES
$205,200.00 54,000.00
This is a confidential memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of this Property. All financial projections and information are provided for general reference purposes only and are from sources believed to be reliable, no warranty or representation is made as to the accuracy with the information being subject to errors, omissions, conditions, withdrawal or other changes without notice and any assumptions relating to the general economy, market conditions, competition and other factors are beyond the control of the Owner and HomeLife/Bayview Realty. All projections, assumptions and other information provided and made herein are subject to variation and should not be relied upon. Independent verification of this information is encouraged.
