Munford, Tennessee Retail Center Investment Opportunity

9.3% cap rate retail center in Munford, Tennesse selling for $1,100,000

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Doctors Drive Retail Strip Center is a 7-unit retail property with an appealing mix of businesses for the local consumer. Located on a major road, this property is perfectly situated between the largest main highway in the county and the downtown area of the city of Munford, Tennessee. With approximately 10,400 square feet of available space, the property features a mix of seven unique- sized spaces to suit nearly any type of business’ needs. All tenants, save one, feature triple net leases easing owner expenses and increasing net profit. Moreover, the contract for sale contains a coin-operated laundromat and all of the applicable equipment, supplies, and rights. The laundromat features 27 washers and 30 dryers all purchased within three years. Unfortunately, the income and expense histories cannot be confirmed due to the seller's decision to collect undocumented funds; however, there is evidence of significant potential net income.

Property Summary

Number of Units: 7
Year Built: 1989
Rentable Square Feet: 10,400
Lot Size: .42 Acres
County: Tipton
Description of Tenants: Mixed Retail

Contract Data

Property Selling Price:$1,100,000
Down Payment: $200,000
Price per Unit: $157,142
Price per Sq. Ft: $105.77
Rentable Sq. Ft: 10,400 sq ft
Year Built: 1989
Lot Size: .42 Acres
Description of Tenants: Mixed Retail

Investment Summary

Net Operating Income (2007): $107,683.56
Actual Cap Rate: 9.3%
Proforma NOI (2008): $102,151.60
Total Annual Debt Service (P+I): $66,746.40
Approx Cashflow after Debt Service: $35,405.20
ROI: 17.7%
DSCR: 1.53

For more information, please complete the information request form.

Please note that all prices, building costs, interest rates, appreciation rates and terms are subject to change without notice. NREI Club is not responsible for losses, damages, or changes in the market conditions. Investors are urged to perform their own due diligence investigations before entering into any real estate transaction, or other contractual relationship, and prior to making a purchase decision.