1031 Exchange Property - Cincinnati, OH

[Drew Forte]

Investment Info:

Industrial commercial investment investment.

Purchase price: $1,295,000
Cash invested: $385,000

Retail building with a fast growing 4Wheel Parts company. Building has a retail store in the front and service bays in the rear.

What made you interested in investing in this type of deal?

In looking at many different building to round out my 1031 I came across this deal. The tenant has a long-term lease, growing at 20% per year and is in an area that is central to Cincinnati.

How did you find this deal and how did you negotiate it?

A broker that I have a long-term relationship brought me this deal. We negotiated on price based on the CAP rate and deferred maintenance items.

How did you finance this deal?

This was a 1031 exchange so the deposit was with 1031 money and financed the remaining balance with a 10 year fixed loan.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I worked with SqFt Commercial. They are great.