TITLE:
99% Leased Office Building - For Sale
CONTROL:
Owner
VALUE:
$10,800,000
LOAN:
$4,996,106
EQUITY:
$5,803,894
TYPE:
Office Building
HAVE:
99%-Leased office building located in Wichita, KS. Built in 1984 and renovated in 2006. This 128,768 square-foot facility sits on 9 acres.
ADDRESS:
2024 N. Woodlawn, Wichita, Kansas
BENEFITS TO NEW OWNER:
Cashflow, Financeability, Depreciation, Tenant Credit/ Stability
Brittany 1 & 2
GROSS SCHEDULED INCOME:
$1,885,711 Actual
VACANCY LOSS:
$9,660
GROSS EFFECTIVE INCOME:
$1,876,051
EXPENSES:
$1,038,501
NOI:
$837,550
DEBT SERVICE:
$410,124
CASH FLOW:
$427,426
CAP RATE:
7.76%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$4,996,106
$34,177
4%
01/05/2041
No
BENEFITS SOUGHT:
Realize upside from recent lease additions.
CAN ADD:
Property, Signature
REMARKS:
New leases and/ or renewals on +80% of the building. Average remaining lease-term in excess of 4 years.
COUNSELOR:
Cory Harkleroad
Signature Partners, LLC
300 W. Douglas, Suite 1031
Wichita, Kansas, 67202
