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Updated almost 9 years ago on . Most recent reply
Putting a Value on a Strip-mall
Hello,
I've purchased a 5 space Strip-mall and completely remodeled it.
The price was $600K, I put over $100K into remodeling. There is a vacant space that should rent for $1500-1600 a month. The other 4 spaces are bringing in $6464/month before tax and Cam.
The property tax is $8400, insurance is $4900, Electrical/water $3000/year. The bldg size is approx 3400Sqft, the lot is 7400sqft
The cap rate for the area is 6%-7.5%
What value would put for the property?
Thanks!