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Make Us An Offer, LLC
Pet Supermarket Retail Building
SOLD!! 193% Annualized Return
Financial Summary
Investment: $250,000 Return: Dividends $ .00
Gain: $363,000 Mortgage Paid Off $ .00
Time invested: 9 months approx Cash at Closing $ 613,000.00
Annualized ROI 193% Total Return 145.20%
Purchase Information:
Price: $1,200,000
Initial Investment: $250,000
Group: 5 Members
Location:
Located on US Hwy 19, New Port Richey, FL
Features:
20,000 sq. ft Retail Center
Pet Supermarket Anchor
Good visibility on US 19
Purchased at under $60 psf
Plan:
Redevelop the Video News space into 3 Retail units in front and office space in the rear. Create value through better leases and tenants.
Here’s what we did
1. Located the property and negotiated a preferential price. In addition, we got a $60,000 credit for the roof and got the owner to add the house behind the plaza which they owned as part of the deal.
2. Created a lease for Video News which guaranteed us 2 years in rent and gave us the ability to remove them at any time.
3. We began doing the designing the buildout for the property as we kept feelers out to see what opportunities were available.
4. We found out that a major retailer wanted to purchase space in the area and needed space the size of the Video News unit.
5. We contracted with them to buy the building. Closing is for August of this year, only 9 months after we purchased the building.
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