owner occupant industrial with rental …...property highlights senior advisor 770.209.1700...
TRANSCRIPT
PROPERTY HIGHLIGHTS
Senior [email protected] #119351
MATTHEW LEVIN, CCIM Owner-occupy with rental income
22,000 SF+- in 2 metal buildings
2 acres zoned light industrial
Roofs replaced in 2014
Not subject to auto business moratorium
PRESENTED BY:
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for itscorrectness.
All SVN® Offices Independently Owned & Operated.The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
FOR SALE | INDUSTRIAL
OWNER OCCUPANT INDUSTRIAL WITH RENTAL INCOME
1850 Joy Lake Road | Morrow, GA 30260
SALE OVERVIEW PROPERTY DESCRIPTION
This light industrial zoned property has a total of 22,000 SF+- in two metalbuildings on two acres with 195 feet of frontage on septic. The first buildingwith 13,250 SF+- has two tenants. Three units A, B and C with 7,500 SF areleased to an automotive repair business. Unit D with 5,750 SF is leased to atree service business. Unit F is the second building with 8,750 SF also leasedto the same tree service tenant, with no heating, restroom or plumbing. Theopportunity is for a buyer to owner occupy a portion of the property andcontinue to collect rental income.
In 2014, the buildings were repainted and new roofs, skylights and ceilinginsulation were installed. The rectangular site has unutilized graded landwith a 10’ wide drainage easement running across the front left corner(southwestern); then along the front of the site. Lake City passed amoratorium against auto businesses in 2014; however, this property is notbelieved to be subject to the moratorium.
The property is well-located one block south of Forest Parkway. ForestParkway is a major east west connector locating the property between I-675(within 2 miles), I-75 (within 4.5 miles), I-285 and Highway 85.
SALE PRICE: $650,000
LOT SIZE: 2.3 Acres
BUILDING SIZE: 22,000 SF+-
ZONING: Light Industrial
MARKET: Atlanta
CROSS STREETS: North Parkway
1850 Joy Lake Road, Morrow, GA 30260
OWNER OCCUPANT INDUSTRIAL WITH RENTAL INCOME
FOR SALE | INDUSTRIAL
All SVN® Offices Independently Owned & Operated.The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
MATTHEW LEVIN, CCIM
Senior [email protected] #119351
svniac.com
1850 Joy Lake Road, Morrow, GA 30260
OWNER OCCUPANT INDUSTRIAL WITH RENTAL INCOME
FOR SALE | INDUSTRIAL
All SVN® Offices Independently Owned & Operated.The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
MATTHEW LEVIN, CCIM
Senior [email protected] #119351
svniac.com
1850 Joy Lake Road, Morrow, GA 30260
OWNER OCCUPANT INDUSTRIAL WITH RENTAL INCOME
FOR SALE | INDUSTRIAL
All SVN® Offices Independently Owned & Operated.The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
MATTHEW LEVIN, CCIM
Senior [email protected] #119351
svniac.com
FOR SALE I INDUSTRIAL
1850 Joy Lake Road, Lake City, GA 30260
MATTHEW LEVIN, CCIM Senior Advisor 770.209.1700 X 3 [email protected]
All Sperry Van Ness® Offices Independently Owned & Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness
22,000 SF OWNER OCCUPY
1850 JOY LAKE RD
RENT ROLL – 2019
Tenant Unit Tenant Since
Type of Renewal
Square Feet
Monthly Rent
Annual Rent
JDM Parts Garage Suite A 2014 Yearly 7,500 $2,000 $24,000
Toby's Tree Service Suite B 2016 Yearly 5,750 $1,600 $19,200
Collins Classic Auto Restore Suite F 2012 Yearly 8,750 $1,300 $15,600
22,000 $4,900 $52,800
PROFIT & LOSS
2015 2016 2017 2018 $ Per Sq Ft
INCOME Rent $34,184 $44,950 $42,000 $43,200 $1.96 SF
EXPENSES Taxes $9,692 $8,264 $10,988 $12,592 $0.57
Insurance $5,794 $4,844 $2,128 $ 2,399 $0.11 Repairs $920 $2,860 $1,960 $ 891 $.04
Supplies $150 $0 $0 $0 $0 Utilities $2,184 $800 $486 $ 392 $.02
Management $0 $0 $0 $0 $0
Subtotal $18,740 $16,768 $15,562 $16,274 $0.74 Net Income $15,444 $28,182 $26,438 $26,926 $1.22
FOR SALE I INDUSTRIAL
1850 Joy Lake Road, Lake City, GA 30260
MATTHEW LEVIN, CCIM Senior Advisor 770.209.1700 X 3 [email protected]
All Sperry Van Ness® Offices Independently Owned & Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness
22,000 SF OWNER OCCUPY
1850 JOY LAKE RD SBA FINANCING AND BUYER OCCUPYING SUITE A WITH 7,500 SF
RENT ROLL
Tenant Unit Tenant Since
Type of Renewal Square Feet
Monthly Rent Annual Rent
Owner To Occupy Suite A 7,500 $0 $0
Toby's Tree Service Suite B 2016 Yearly 5,750 $1,600 $19,200
Collins Classic Restore Suite F 2012 Yearly 8,750 $1,300 $15,600
22,000 $2,900 $34,800
PROFIT & LOSS
2017 2018 2019 Projected INCOME
Rent $42,000 $43,200 $34,800 EXPENSES
Subtotal $15,562 $16,274 $16,600
Net Income $26,438 $26,926 $18,200
Note: 2019 expenses are 2018 amounts increased by 2%.
SELLER FINANCING
Year 1 Price $650,000
Down Payment $ 65,000
Loan Amount $585,000 Interest Rate 8.0%
Monthly Payment Interest Only $4,515.12 Annual Payment $54,181
OWNER OCCUPANT COST FOR SPACE
2019 Projected Net Income $18,200
Less Loan Payments $54,181
Owner Occupant Cost of 7,500 SF -$35,981 Cost Per Month -$2,998
Cost Per Sq Ft -$4.80 SF
All SVN® Offices Independently Owned & Operated.The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
MATTHEW LEVIN, CCIM
Senior [email protected] #119351
svniac.com
1850 Joy Lake Road, Morrow, GA 30260
OWNER OCCUPANT INDUSTRIAL WITH RENTAL INCOME
FOR SALE | INDUSTRIAL
1850 Joy Lake Road, Morrow, GA 30260
OWNER OCCUPANT INDUSTRIAL WITH RENTAL INCOME
FOR SALE | INDUSTRIAL
All SVN® Offices Independently Owned & Operated.The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
MATTHEW LEVIN, CCIM
Senior [email protected] #119351
svniac.com
1850 Joy Lake Road, Morrow, GA 30260
OWNER OCCUPANT INDUSTRIAL WITH RENTAL INCOME
FOR SALE | INDUSTRIAL
All SVN® Offices Independently Owned & Operated.The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
MATTHEW LEVIN, CCIM
Senior [email protected] #119351
svniac.com
POPULATION 1 MILE 5 MILES 10 MILES
TOTAL POPULATION 3,733 145,955 602,703
MEDIAN AGE 35.0 31.4 33.1
MEDIAN AGE (MALE) 33.1 30.7 31.7
MEDIAN AGE (FEMALE) 36.0 31.9 34.2
HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES
TOTAL HOUSEHOLDS 1,254 48,309 214,554
# OF PERSONS PER HH 3.0 3.0 2.8
AVERAGE HH INCOME $48,606 $50,495 $53,167
AVERAGE HOUSE VALUE $134,714 $166,211
1850 Joy Lake Road, Morrow, GA 30260
OWNER OCCUPANT INDUSTRIAL WITH RENTAL INCOME
FOR SALE | INDUSTRIAL
All SVN® Offices Independently Owned & Operated.The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
MATTHEW LEVIN, CCIM
Senior [email protected] #119351
svniac.com
Matthew Levin, CCIMSenior AdvisorSVN | Interstate Brokers
Matthew J. Levin, CCIM, serves as a Senior Advisor for SVN, focusingon the sale and leasing of retail, office and industrial properties. Withover 20 years experience in the real estate industry, he hascompleted over 500 transactions valued at $250 million.
Levin is a multi-year recipient of the Partner Circle Award, SVN'highest recognition, and consistently performs in the top ten percentof advisors nationally.
Prior to joining SVN, Levin served as President of Dekalb RealtyCompany. Previously, he served as a $250 million Commercial RealEstate Non-Performing Loan Portfolio Manager for the FederalDeposit Insurance Corporation (FDIC).
Levin is a life million dollar club member of the Atlanta CommercialBoard of Realtors. He is past chairman of the Scholarship Committeeof the Georgia Chapter of CCIM and past president of the GeorgiaState University, Real Estate Alumni Group.
He received his Bachelor of Arts from Emory University and Master ofScience degree in Real Estate from Georgia State University.
Phone: 770.209.1700
Email: [email protected]
GA #119351
Fax: 770.209.1700
Cell: 678.467.9658
Address: 3300 Holcomb Bridge Rd, Ste 240
Peachtree Corners, GA 30092