FOR SALE fully leased investment 2830 19th St. SE Salem OR 97302 LEASED INVESTMENT PROPERTY Lessee is in the initial 5 year lease term with multiple 5 year renewals. The business is a local automotive service center with a strong client base and is one of only 11 premier NAPA certified service centers on the west coast. The building footprint measures 62 x 121 with a second floor office above the customer area. The building was renovated throughout with electrical service extended, ADA accessibility to facilities, new windows with low e glass, siding repairs and new siding with the new windows. New HVAC for office area, all new interior finishes, shop area branded with NAPA identity. The property shares a driveway with several other industrial use buildings. Adjacent businesses include: Badway Auto, Northwest Cabinets, River City Machine, etc... Offered at $485,000.00 Loopnet ID: 18462823 MLS Listing# PROPERTY FEATURES 100% OCCUPIED CURRENT 5 YEAR LEASE NAPA CERTIFIED SERVICE CENTER IG ZONE 8000 SF BUILDING MAJOR BUILDING REMODEL 1 DOCK DR. 10X10 3 GRADE DRS. 12X14 TRUCK ACCESS WOOD FRAMED, METAL SIDING AND ROOF. Agency Disclosure: www.oregon.gov/rea/edu/docs/sample%20initial%20agency%20disclosure%20pamphlet.pdf
FINANCIAL apod Property Name Larrondo's Auto Center Annual Property Operating Data Location Type of Property Size of Property Purpose of analysis 2830 19th St SE Salem OR Industrial Investment 8,108 (Sq. Ft./Units) Analysis for sale Purchase Price Plus Acquisiition Costs Plus Loan Fees/Costs Less Mortgages Equals Initial Investment 485,000 5,000 339,500 150,500 Assessed/Appraised Values Land 72,140 16% Improvements 386,540 84% Amort Loan Personal Property 0 0% Balance Periodic Pmt Pmts/Yr Interest Period Term Total 458,680 100% 1st $339,500 $2,187 12 6.% 25 25 2nd 12 Adjusted Basis as of: 7-Aug-15 $490,000 $/SQ FT % ALL FIGURES ARE ANNUAL or $/Unit of GOI COMMENTS/FOOTNOTES 1 POTENTIAL RENTAL INCOME 5 38,160 2 Less: Vacancy & Cr. Losses ( 5.% of PRI ) 1,908 3 EFFECTIVE RENTAL INCOME 36,252 4 Plus: Other Income (collectable) 2,307 5 GROSS OPERATING INCOME 38,559 OPERATING EXPENSES: 7 Real Estate Taxes 0.45 3,662 8 9 Personal Property Taxes Property Insurance 0.11 893 0 1 2 3 Off Site Management Payroll Expenses/Benefits Taxes/Worker's Compensation 4 Repairs and Maintenance 5.00% 1,928 Utilities: 5 6 7 8 9 0 1 2 3 4 5 6 7 8 Accounting and Legal Licenses/Permits Advertising Supplies Miscellaneous Contract Services: 9 TOTAL OPERATING EXPENSES 6,483 0 NET OPERATING INCOME 32,076 1 Less: Annual Debt Service 26,248 2 3 4 5 Less: Participation Payments Less: Leasing Commissions Less: Funded Reserves CASH FLOW BEFORE TAXES $5,828 Authored by Gary G. Tharp, CCIM Copyright 2004 by the CCIM Institute Prepared for:
FLOOR PLAN not to scale N W
PARCEL MAP source: marion county
RD SE UN IO N PAC IF I C R R PACI FI C RAILR OAD PENCE LOO P SE 25TH 7335N HO W ARD S T SE ZONE MAP source: city of salem 25TH STREE T SE HE LM STREE T SE 22ND STREET SE Pringle Creek 14TH S T S E Pringle Creek OXFORD S T S E LEW IS ST SE 20TH S T S E MISSION S TRE ET S E OXFORD STREE T SE OX F O RD ST R EE T SE OX F O RD ST R EE T SE 25TH STREE T SE ELE CTRIC AVE SE RURAL AV ENUE S E 627 24 T H ST R EE T SE FO RD S TRE ET S E 23RD STREET SE HOY T STREE T SE ST S E JUDS ON 22ND STREET SE STREET S E 16TH 25TH STREET SE PRINGLE FO RD S TRE ET S E 23RD STREET SE 19TH STREE T SE MC GILC H RI ST STR EET SE DAVCOR S TRE ET S E 22ND ST SE 629 E S E UNIO N DRIVE SE ST REE T S E PRINGLE ROAD SE VI STA AVENU E SE 19TH STREE T SE UNION PACIFIC RAI LROAD VISTA AV ENUE S E 22ND ST SE AVIAT ION L P SE 629 AVIAT ION L P SE ANE SE DRIVE SE RNINGSIDE DRIVE SE 13TH PLACE SE ROAD S E SALISHAN STREET SE RA NDEL CT S E COLSON CT SE Creek Pringle EDWARD DRI VE S E Middle Fork anning purposes only. The City is not responsible for errors or omissions. Every effort has been made to insure the accuracy of these maps. chanical error or changes in the zoning maps created by recent land use actions or legislative changes. To verify the zoning designation of a ation Planner at 503-588-6256 extension 7427. This product is provided as is, without warranty. In no event is the City of Salem liable for bject to license and copyright limitations and further distribution or resale is prohibited. 8302N MADR ON A AVENUE SE