Totally Florida Plus is pleased to bring you another Investment opportunity with positive cash flow.
Meet the Montgomery Building. Originally built in 1924 as one of the first high rises in the State of South Carolina. This building, using historic tax credits of over 5 Million dollars, is in the process of an eight figure complete renovation and refurbishment. Upon completion, it will offer over 150,000 square feet of modern office and retail space with all the conveniences of a technoligically sophisticated building in the highly sought after downtown area of Spartanburg, SC.
In addition, we are actively negotiating a lease with a large shipping and printshop company for 2500+ feet of retail space on the first floor. A Starbucks Coffee and several mid level restaurants are also planned for this historic lobby and retail space as well as teleconferencing facilities and meeting rooms that will be available for owners and tenants use.
Boding for the area's dynamice nature, within 200 yards of the building are the corporate headquarters of both QS1 and Extended Stay Hotels. With 6 colleges within a 5 minute drive, it is no wonder that companies are flocking here for the talented workers. In fact, this building previously housed the entire BMW North American Plant Management Team before completion of the BMW Factory just 10 short miles away.
Typical Class "A" office space in the downtown area is averaging $20 per square foot per annum. With the average size of the units coming in at 1,200 ft, and assuming a 10% discount from market to be very conservative, your monthly gross income would be $1,800.
The base sales pricing that we are offering to our existing clients and friends is going to $135 per square foot, or about a 13% discount to current market pricing. A limitied number of upgrades will also be available. This pricing will allow for some VERY nice prositive cash flows from day one.
Special offer pricing: $162,000
Average Monthly Payment: $1,076 (Assuming 5% down and 7.5% MTG)
Closing on these units can begin with leasing operations in place provided by the professional management company located in the building by the middle of the summer 2007.
Cash Flow Summary
While interest rates vary and many people finance their properties quite differently, we like to present a general idea of what your financing and cash flow will look like. This model is based on a special purchase price of $162,000. It assumes a minimum deposit of 5% downpayment and a mortgage loan based on a thirty (30) year amortization with a 7.5% interest rate. Obviously, there is an infinite number of ways to finance and we are happy to answer any questions you or your lender may have.Our Price: $162,000
Monthly Cash Flow: $1,800
Monthly Mortgage: -$1,076
Monthly MGMT (8%): -$ 144
Monthly Assoc.: -$ 150 - Can be passed to tenant as CAM
Insurance: -$ 0 - Insured by Association
___________________________
Total Monthly Cash Flow: $ 430
Total Annual Positive Cash Flow: $5,160
Contact us for more information
Meet the Montgomery Building. Originally built in 1924 as one of the first high rises in the State of South Carolina. This building, using historic tax credits of over 5 Million dollars, is in the process of an eight figure complete renovation and refurbishment. Upon completion, it will offer over 150,000 square feet of modern office and retail space with all the conveniences of a technoligically sophisticated building in the highly sought after downtown area of Spartanburg, SC.
In addition, we are actively negotiating a lease with a large shipping and printshop company for 2500+ feet of retail space on the first floor. A Starbucks Coffee and several mid level restaurants are also planned for this historic lobby and retail space as well as teleconferencing facilities and meeting rooms that will be available for owners and tenants use.
Boding for the area's dynamice nature, within 200 yards of the building are the corporate headquarters of both QS1 and Extended Stay Hotels. With 6 colleges within a 5 minute drive, it is no wonder that companies are flocking here for the talented workers. In fact, this building previously housed the entire BMW North American Plant Management Team before completion of the BMW Factory just 10 short miles away.
Typical Class "A" office space in the downtown area is averaging $20 per square foot per annum. With the average size of the units coming in at 1,200 ft, and assuming a 10% discount from market to be very conservative, your monthly gross income would be $1,800.
The base sales pricing that we are offering to our existing clients and friends is going to $135 per square foot, or about a 13% discount to current market pricing. A limitied number of upgrades will also be available. This pricing will allow for some VERY nice prositive cash flows from day one.
Special offer pricing: $162,000
Average Monthly Payment: $1,076 (Assuming 5% down and 7.5% MTG)
Closing on these units can begin with leasing operations in place provided by the professional management company located in the building by the middle of the summer 2007.
Cash Flow Summary
While interest rates vary and many people finance their properties quite differently, we like to present a general idea of what your financing and cash flow will look like. This model is based on a special purchase price of $162,000. It assumes a minimum deposit of 5% downpayment and a mortgage loan based on a thirty (30) year amortization with a 7.5% interest rate. Obviously, there is an infinite number of ways to finance and we are happy to answer any questions you or your lender may have.Our Price: $162,000
Monthly Cash Flow: $1,800
Monthly Mortgage: -$1,076
Monthly MGMT (8%): -$ 144
Monthly Assoc.: -$ 150 - Can be passed to tenant as CAM
Insurance: -$ 0 - Insured by Association
___________________________
Total Monthly Cash Flow: $ 430
Total Annual Positive Cash Flow: $5,160
Contact us for more information
posted by Totally Florida Staff at
11:04 AM
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