4 Freestanding Net Leased Buildings For Sale in Florida

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Location:
These four buildings are strategically located in Miami, Fort Lauderdale, Deltona and Melbourne, Florida.

Description:
Each modern building is a one story freestanding concrete block and stucco structure. The Melbourne, Fort Lauderdale and Deltona properties are approximately 4660 SF and the Miami property is approximately 7400 SF. All were built in the mid-1980's. The parcels of land on which the properties are located range from 25,600 SF - 44,866 SF.

Land Area: 141,351 SF total
Building Area: 21,380 SF total
Parking: Ample
Zoning: Commercial

Tenant

Tenant	SF	Term	Type
LaPetite	21,380	6 years	Triple Net
Academy			Bond Lease

* See lease abstract for details

Bridge Financing Available:
$1,540,000 mortgage at 9.75%* interest only for a term of one year.

Pro Forma as of 1/92
Total Income: $250,058
Less Vacancy(0%): 0
Effective Income: 250,058
Less Operating Expenses: 14,154 (Represents the Florida state tax on rental income)
Net Operating Income: 235,904
Debt Service: 150,150
Cash Flow: 85,754

Comments
Guaranteed rental income with no operating expenses. Strong national tenant with over 700 locations nationwide. All leases are "bond type" leases, with no exposure for any expense to the owner. Property is management free. There are rental income increment increases each 5 years. * Mortgage is with the Bank of Tokyo. Rate 2% above prime rate.

Price: $2,350,000
Cash Required: $810,000
Cap Rate: 10%
Cash Yield: 10.6%