Best deal I have done so far.
Investment Info:
Office Space commercial investment investment.
Purchase price: $465,000
Cash invested: $180,000
Bought this with the proceeds from 1031 used 125k down and 55k to renovate the building as 1 side was just a shell. We put in a new bathroom, conference room, kitchen/breakroom, 2 offices, lobby on one side. The other side was just paint and carpet. We currently just leased it NNN for $12,500 per month 5-year corp guarantee and 2% annual increases with two 3 year extension options. The only expense being the PMC at 8%. In the next 6 months, we will list the building for sale at 2.2M 6.25% cap rate.