TITLE:
LITTLE RED Building in West Kelso
CONTROL:
Partner
VALUE:
$500,000
LOAN:
$140,000
EQUITY:
$360,000
TYPE:
Retail/Commercial
HAVE:
This @ 1520 Sq ft building on a 12,001 sqft lot is a former fire station and houses the business Copies Today. It is an open space building with a telephone room, delivery, handicapped bathroom with shower. Built in 1944 with anupgraded electrical panel.
ADDRESS:
403 Catlin St, Kelso, Washington
BENEFITS TO NEW OWNER:
30+ year old business. A new lease is to be negotiated. Terms suitable to the purchaser. 4000 sqft of land to rent.
GROSS SCHEDULED INCOME:
$46,259 Actual
VACANCY LOSS:
$6,000
GROSS EFFECTIVE INCOME:
$40,259
EXPENSES:
$0
NOI:
$40,259
DEBT SERVICE:
$140,000
CASH FLOW:
$-99,741
CAP RATE:
8.05%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$120,000
$1,250
8%
09/20/2036
Yes
LOAN 2
$21,000
$1,000
10%
02/15/2047
Yes
BENEFITS SOUGHT:
Steady Income, vacation Spot, retirement
CAN ADD:
Cash Flow Business: Copies Today
REMARKS:
This building has 18" concrete walls, 3 entrances, a drive-up window, Excellent signage, a convenient location, off-street parking, and a lighted intersection on a state highway. LLC 65% P. Palmer, 35% H. Palmer
COUNSELOR:
Hal Palmer
PDG Services
P. O. Box G
Longview, Washington, 98632
