3321 SKYLINE BLVD3321 Skyline Blvd, Cape Coral FL 33914

O F F E R I N G M E M O R A N D U M

3321 SKYLINE BLVDCONTENTS

Exclusively Marketed by:

William CabreraPrincipal Broker(305) 812-1216Lic: BK3251009william@willcre.com

We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing, or withdrawal without notice.  We include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future performance of the property. You and your tax and legal advisors should conduct yourown investigation of the property and transaction.

01 Executive Summary Investment Summary 3 Unit Mix Summary 4

02 Property Description Property Features 5 Aerial Map 6

03 Rent Roll Rent Roll 7

04 Financial Analysis Income & Expense Analysis 8 Cash Flow Analysis 9

3321 SKYLINE BLVD Investment Summary | 03

OFFERING SUMMARYADDRESS 3321 Skyline Blvd

Cape Coral FL 33914COUNTY LeeMARKET Cape CoralBUILDING SF 3,248 SFLAND SF 16,875NUMBER OF UNITS 4YEAR BUILT 2004YEAR RENOVATED 2020APN 02-45-23-C1-01772.0010OWNERSHIP TYPE Fee Simple

FINANCIAL SUMMARYOFFERING PRICE $550,000PRICE PSF $169.34PRICE PER UNIT $137,500OCCUPANCY 95.00 %NOI (CURRENT) $39,968NOI (Pro Forma) $41,591CAP RATE (CURRENT) 7.27 %CAP RATE (Pro Forma) 7.56 %GRM (CURRENT) 9.96GRM (Pro Forma) 9.17

PROPOSED FINANCINGLOAN TYPEDOWN PAYMENT $165,000LOAN AMOUNT $385,000INTEREST RATE 5.00 %ANNUAL DEBT SERVICE $19,250LOAN TO VALUE 70 %

3321 SKYLINE BLVD Unit Mix Summary | 04

Actual MarketUnit Mix # Units Square Feet Current Rent Rent PSF Monthly Income Market Rent Market Rent PSF Market Income

1 bd + 1 ba 2 663 $1,050 $1.58 $2,100 $1,150 $1.73 $2,3002 bd + 2 ba 2 961 $1,250 $1.30 $2,500 $1,350 $1.40 $2,700

Totals/Averages 4 812 $1,150 $1.44 $4,600 $1,250 $1.57 $5,000

3321 SKYLINE BLVD Property Features | 05

PROPERTY FEATURESNUMBER OF UNITS 4BUILDING SF 3,248LAND SF 16,875LAND ACRES .39YEAR BUILT 2004YEAR RENOVATED 2020# OF PARCELS 1NUMBER OF STORIES 1NUMBER OF BUILDINGS 1NUMBER OF PARKING SPACES 8WASHER/DRYER Yes - included in unit

FEES & DEPOSITSSECURITY DEPOSIT One Full Month

MECHANICALHVAC Central

UTILITIESWATER TenantELECTRIC Tenant

CONSTRUCTIONFOUNDATION Concrete SlabFRAMING CBS - ConcreteEXTERIOR StuccoPARKING SURFACE AsphaltROOF Dimensional Shingle

3321 SKYLINE BLVD Aerial Map | 06

3321 SKYLINE BLVD Rent Roll | 07

Unit Square Feet Unit Mix Monthly Rent PSF Market Rent Move-in Date NotesA 961 2 bd + 2 ba $1,250 $1.30 $1,350 3/1/2020 Expires 02.28.21B 961 2 bd + 2 ba $1,250 $1.30 $1,350 3/1/2020 Expires 02.28.21C 663 1 bd + 1 ba $1,050 $1.58 $1,150 3/1/2020 Expires 02.28.21D 663 1 bd + 1 ba $1,050 $1.58 $1,150 3/1/2020 Expires 11.30.21

Totals/Averages $4,600 $1.44 $5,000

3321 SKYLINE BLVD Income & Expense Analysis | 08

INCOME CURRENT PRO FORMAGross Potential Income $55,200 $60,000

Less: General Vacancy $2,760 $3,000

Effective Gross Income $52,440 $57,000

Less: Expenses $12,472 $15,409

Net Operating Income $39,968 $41,591

Income Notes: The building is 100% Occupied. The 5% Vacancy is used as a general underwritingfactor.

EXPENSES CURRENT PRO FORMA

Real Estate Taxes $1,443 $5,772 $1,965 $7,859

Insurance $595 $2,378 $750 $3,000

Management Fee $656 $2,622 $713 $2,850

Pest Control $125 $500 $125 $500

Landscaping & Maintenance $300 $1,200 $300 $1,200

Total Operating Expense $3,118 $12,472 $3,852 $15,409

Reserves $500 $2,000 $500 $2,000

Annual Debt Service $4,813 $19,250 $4,813 $19,250

Expense / SF $3.83 $4.74

% of EGI 23.78 % 27.03 %

Per Unit Per Unit

Expense Notes: The property is easily owner-managed. The 5% management fee is a generalunderwriting factor.

REVENUE ALLOCATION

DISTRIBUTION OF EXPENSES

3321 SKYLINE BLVD Cash Flow Analysis | 09

CASH FLOWCalendar Year CURRENT Pro Forma Year 3 Year 4 Year 5Gross Potential RevenueGross Rental Income $55,200 $60,000 $60,600 $61,206 $62,430Gross Potential Income $55,200 $60,000 $60,600 $61,206 $62,430General Vacancy $2,760 $3,000 $3,030 $3,060 $3,122Effective Gross Income $52,440 $57,000 $57,570 $58,146 $59,309Operating ExpensesReal Estate Taxes $5,772 $7,859 $7,859 $7,859 $7,859Insurance $2,378 $3,000 $3,000 $3,000 $3,000Management Fee $2,622 $2,850 $2,879 $2,907 $2,965Pest Control $500 $500 $500 $500 $500Landscaping & Maintenance $1,200 $1,200 $1,200 $1,200 $1,200Total Operating Expense $12,472 $15,409 $15,438 $15,466 $15,524Net Operating Income $39,968 $41,591 $42,133 $42,679 $43,784Reserves $2,000 $2,000 $2,000 $2,000 $2,000Annual Debt Service $19,250 $19,250 $19,250 $19,250 $19,250Cash Flow $18,718 $20,341 $20,882 $21,429 $22,534

Effective Gross Income vs Operating Expenses Cash Flow

3321 SKYLINE BLVD Cash Flow Analysis | 10

Calendar Year CURRENT Pro Forma Year 3 Year 4 Year 5Financial MetricsCash on Cash Return b/t 11.34 % 12.33 % 12.66 % 12.99 % 13.66 %CAP Rate 7.27 % 7.56 % 7.66 % 7.76 % 7.96 %Debt Coverage Ratio 2.08 2.16 2.19 2.22 2.27Operating Expense Ratio 23.78 % 27.03 % 26.81 % 26.59 % 26.17 %Gross Multiplier (GRM) 9.96 9.17 9.08 8.99 8.81Loan to Value 70.03 % 69.98 % 70.00 % 70.00 % 69.99 %Breakeven Ratio 60.49 % 60.81 % 60.25 % 59.71 % 58.63 %Price / SF $169.34 $169.34 $169.34 $169.34 $169.34Price / Unit $137,500 $137,500 $137,500 $137,500 $137,500Income / SF $16.14 $17.54 $17.72 $17.90 $18.26Expense / SF $3.83 $4.74 $4.75 $4.76 $4.77

3321 SKYLINE BLVD

CONFIDENTIALITY and DISCLAIMERThe information contained in the following offering memorandum is proprietary andstrictly confidential. It is intended to be reviewed only by the party receiving it fromWILL C REAL ESTATE and it should not be made available to any other person orentity without the written consent of WILL C REAL ESTATE.

By taking possession of and reviewing the information contained herein the recipientagrees to hold and treat all such information in the strictest confidence. Therecipient further agrees that recipient will not photocopy or duplicate any part of theoffering memorandum. If you have no interest in the subject property, pleasepromptly return this offering memorandum to WILL C REAL ESTATE. This offeringmemorandum has been prepared to provide summary, unverified financial andphysical information to prospective purchasers, and to establish only a preliminarylevel of interest in the subject property.

The information contained herein is not a substitute for a thorough due diligenceinvestigation. WILL C REAL ESTATE has not made any investigation, and makes nowarranty or representation with respect to the income or expenses for the subjectproperty, the future projected financial performance of the property, the size andsquare footage of the property and improvements, the presence or absence ofcontaminating substances, PCBs or asbestos, the compliance with local, state andfederal regulations, the physical condition of the improvements thereon, or financialcondition or business prospects of any tenant, or any tenant’s plans or intentions tocontinue its occupancy of the subject property.

The information contained in this offering memorandum has been obtained fromsources we believe reliable; however, WILL C REAL ESTATE has not verified, andwill not verify, any of the information contained herein, nor has WILL C REALESTATE conducted any investigation regarding these matters and makes nowarranty or representation whatsoever regarding the accuracy or completeness ofthe information provided. All potential buyers must take appropriate measures toverify all of the information set forth herein. Prospective buyers shall be responsiblefor their costs and expenses of investigating the subject property.

Exclusively Marketed by:

William CabreraPrincipal Broker(305) 812-1216Lic: BK3251009william@willcre.com

powered by CREOP