Richards Body Shop on North - Professional Auto Services and Collision Repair Shop
Auto Repair Shop For Sale or Lease - LoopNet...AUTO REPAIR SHOP FOR SALE OR LEASE 9625 N Cave Creek...
16
Contact: Randy Erwin Phone : 602-418-1116 Email : [email protected] Auto Repair Shop For Sale or Lease 9625 N Cave Creek Rd. Phoenix, Az 85020 ©Copyright 2011-2019 CRE Tech, Inc. All Rights Reserved.
Transcript of Auto Repair Shop For Sale or Lease - LoopNet...AUTO REPAIR SHOP FOR SALE OR LEASE 9625 N Cave Creek...
Contact:Randy ErwinPhone : 602-418-1116Email : [email protected]
Auto Repair ShopFor Sale or Lease9625 N Cave Creek Rd.Phoenix, Az 85020
©Copyright 2011-2019 CRE Tech, Inc. All Rights Reserved.
TABLE OF CONTENTSTABLE OF CONTENTS
Page 1
PROPERTY INFO & DISCLAIMER
PROPERTY DESCRIPTION
PROPERTY PHOTOS
AERIAL & LOCATION REPORT
INVESTMENT ANALYSIS - 5 YEAR BEFORE TAX
2
3
4
7
9
©Copyright 2011-2019 CRE Tech, Inc. All Rights Reserved.
AUTO REPAIRSHOP FOR SALEOR LEASE
PROPERTYINFO:
PURCHASE PRICE:$699,000
PROPERTY ADDRESS:9625 N CAVE CREEK RD.PHOENIX, AZ 85020
YEAR BUILT:
PROPERTY SIZE6,803 SQ. FT.
LAND SIZE0.42 ACRES
Page 2COMPANY DISCLAIMER©Copyright 2011-2019 CRE Tech, Inc. All Rights Reserved.
PROPERTY DESCRIPTIONPROPERTY DESCRIPTIONPrime opportunity for an auto repair service business to continue operations inthis well established location. There are 7 service bays with roll 15'x8' roll up doors.3 working lifts. Secured premises with security system, security lighting on afenced lot. 2-stage oil separator passed all inspections. Private office. Publicrestrooms. 3 phase power throughout. R30 insulation, drywall and paint. New roofon main building and 1 new a/c unit just installed! Paint booth included. Largeopen area for parking and auto storage. Over 65k in recent improvements.. Wellestablished auto repair service provider on Cave Creek Road. Owner is looking toretire after nearly 30 years in this location. Business for sale at $29,000, Real Estatefor $670,000. Also for lease at $4,100 / month.
Auto Repair Shop For Sale or LeasePhoenix Az 85020
Page 3©Copyright 2011-2019 CRE Tech, Inc. All Rights Reserved.
PROPERTY PHOTOSPROPERTY PHOTOS
Page 4©Copyright 2011-2019 CRE Tech, Inc. All Rights Reserved.
PROPERTY PHOTOSPROPERTY PHOTOS
Page 5©Copyright 2011-2019 CRE Tech, Inc. All Rights Reserved.
Motor Car Auto Repair Shop9625 N Cave Creek Rd., Phoenix, Az, 85020
AUTO REPAIR SHOP FOR SALE OR LEASE9625 N Cave Creek Rd., Phoenix, Az, 85020AERIAL ANNOTATION MAP
Page 7
© Copyright 2011- 2019 CRE Tech, Inc. All Rights Reserved.
Randy ErwinCentury21 CommercialPhone: 602-418-1116Email: [email protected] W Glendale Ave, Glendale AZ 85305
Purchase PricePurchase Price $699,000
+Acquisition Costs+Acquisition Costs $13,980
-Mortgage(s)-Mortgage(s) $559,200
+Loan Fees & Points+Loan Fees & Points $0
Initial InvestmentInitial Investment $153,780
INITIAL INVESTMENTINITIAL INVESTMENTLoan AmountLoan Amount $559,200
Interest RateInterest Rate 4.500%
Amortization PeriodAmortization Period 25 Years
Periodic PaymentPeriodic Payment $3,108
Annual Debt ServiceAnnual Debt Service $37,299
MORTGAGE DATAMORTGAGE DATA 1ST LIEN1ST LIEN
For the Year EndingFor the Year EndingYear 1Year 1
May-2020May-2020
Year 2Year 2
May-2021May-2021
Year 3Year 3
May-2022May-2022
Year 4Year 4
May-2023May-2023
Year 5Year 5
May-2024May-2024
POTENTIAL RENTAL INCOME (PRI)POTENTIAL RENTAL INCOME (PRI)
Base Rental IncomeBase Rental Income $76,800 $76,800 $76,800 $76,800 $76,800
- Turnover Vacancy- Turnover Vacancy $0 $0 $0 $0 $0
- Rent Concessions- Rent Concessions $0 $0 $0 $0 $0
Total Base Rental IncomeTotal Base Rental Income $76,800 $76,800 $76,800 $76,800 $76,800
-General Vacancy / Credit Loss-General Vacancy / Credit Loss $0 $0 $0 $0 $0
EFFECTIVE RENTAL INCOMEEFFECTIVE RENTAL INCOME $76,800 $76,800 $76,800 $76,800 $76,800 $76,800 $76,800 $76,800 $76,800 $76,800
+ Tenant Expense Reimbursements+ Tenant Expense Reimbursements $0 $0 $0 $0 $0
+Other Income+Other Income $0 $0 $0 $0 $0
GROSS OPERATING INCOME (GOI)GROSS OPERATING INCOME (GOI) $76,800 $76,800 $76,800 $76,800 $76,800 $76,800 $76,800 $76,800 $76,800 $76,800
-Operating Expenses-Operating Expenses $15,823 $15,823 $15,823 $15,823 $15,823
NET OPERATING INCOME (NOI)NET OPERATING INCOME (NOI) $60,977 $60,977 $60,977 $60,977 $60,977 $60,977 $60,977 $60,977 $60,977 $60,977
NET OPERATING INCOME (NOI)NET OPERATING INCOME (NOI) $60,977 $60,977 $60,977 $60,977 $60,977
-Annual Debt Service 1st Lien-Annual Debt Service 1st Lien $37,299 $37,299 $37,299 $37,299 $37,299
CASH FLOW BEFORE TAXESCASH FLOW BEFORE TAXES $23,678 $23,678 $23,678 $23,678 $23,678 $23,678 $23,678 $23,678 $23,678 $23,678
Projected Sales Price (EOY 5)Projected Sales Price (EOY 5) $0 $0
Cost of SaleCost of Sale $0
Mortgage Balance 1st LienMortgage Balance 1st Lien $491,301
Sales Proceeds Before TaxSales Proceeds Before Tax ($491,301) ($491,301)
SALES PROCEEDSSALES PROCEEDSInternal Rate of Return (IRR)Internal Rate of Return (IRR) N/A
Acquisition CAP RateAcquisition CAP Rate 8.72%
Year 1 Cash-on-CashYear 1 Cash-on-Cash 15.40%
Gross Rent MultiplierGross Rent Multiplier 9.10
Loan to ValueLoan to Value 78.23%
Debt Service Coverage RatioDebt Service Coverage Ratio 1.63
INVESTMENT PERFORMANCEINVESTMENT PERFORMANCE
Loan BalanceLoan Balance $546,812 $533,855 $520,303 $506,128 $491,301
Loan-to-Value (LTV) - 1st LienLoan-to-Value (LTV) - 1st Lien 0% 0% 0% 0% 0%
Debt Service Coverage RatioDebt Service Coverage Ratio 1.63 1.63 1.63 1.63 1.63
Before Tax Cash on CashBefore Tax Cash on Cash 15.40% 15.40% 15.40% 15.40% 15.40%
CASH FLOWCASH FLOW
AUTO REPAIR SHOP FOR SALE OR LEASE9625 N Cave Creek Rd., Phoenix, Az, 850205-YEAR CASH FLOW ANALYSIS
Fiscal Year Beginning June 2019
Page 9
DISCLAIMER: Year 5 sales price based on estimated NOI in year 6. All information is based on estimated forecast and are intendedfor the purpose of example projections and analysis. The information presented herein is provided as is, without warranty of any
kind. Century21 Commercial nor CRE Tech, Inc. assume any liability for errors or omissions. This information is not intended toreplace or serve as substitute for any legal, investment, real estate or other professional advice, consultation or service.
© Copyright 2011- 2019 CRE Tech, Inc. All Rights Reserved.
Randy ErwinCentury21 CommercialPhone: 602-418-1116Email: [email protected] W Glendale Ave, Glendale AZ 85305
Randy
Rectangle
Suite/UnitSuite/Unit TenantTenantRentableRentable
Area(Sq. Ft.)Area(Sq. Ft.)
LeaseLease
Start DateStart Date
LeaseLease
End DateEnd Date
Initial LeaseInitial Lease
TermTerm
(Months)(Months)
CurrentCurrent
MonthlyMonthly
Rate PerRate Per
Sq. Ft.Sq. Ft.
CurrentCurrent
AnnualAnnual
Rate PerRate Per
Sq. Ft.Sq. Ft.
Current YearCurrent Year
AnnualAnnual
Base RentBase Rent
Main Motor Car 4,823 Jun-19 May-20 12 $0.85 $10.20 $49,200
2 Bays Auto Body 1,180 Jun-19 May-20 12 $1.02 $12.20 $14,400
Shop Machine Shop 800 Jun-19 May-20 12 $1.38 $16.50 $13,200
Total Amount 6,803 $76,800
AUTO REPAIR SHOP FOR SALE OR LEASE9625 N Cave Creek Rd., Phoenix, Az, 85020TENANT RENT ROLL
Fiscal Year Beginning June 2019
Page 10
DISCLAIMER: Year 5 sales price based on estimated NOI in year 6. All information is based on estimated forecast and are intendedfor the purpose of example projections and analysis. The information presented herein is provided as is, without warranty of any
kind. Century21 Commercial nor CRE Tech, Inc. assume any liability for errors or omissions. This information is not intended toreplace or serve as substitute for any legal, investment, real estate or other professional advice, consultation or service.
© Copyright 2011- 2019 CRE Tech, Inc. All Rights Reserved.
Randy ErwinCentury21 CommercialPhone: 602-418-1116Email: [email protected] W Glendale Ave, Glendale AZ 85305
Tenant Occupancy
Motor Car (70.9%)
Auto Body (17.35%)
Machine Shop (11.76%)
AUTO REPAIR SHOP FOR SALE OR LEASE9625 N Cave Creek Rd., Phoenix, Az, 85020TENANT RENT ROLL
Fiscal Year Beginning June 2019
Page 11
DISCLAIMER: Year 5 sales price based on estimated NOI in year 6. All information is based on estimated forecast and are intendedfor the purpose of example projections and analysis. The information presented herein is provided as is, without warranty of any
kind. Century21 Commercial nor CRE Tech, Inc. assume any liability for errors or omissions. This information is not intended toreplace or serve as substitute for any legal, investment, real estate or other professional advice, consultation or service.
© Copyright 2011- 2019 CRE Tech, Inc. All Rights Reserved.
Randy ErwinCentury21 CommercialPhone: 602-418-1116Email: [email protected] W Glendale Ave, Glendale AZ 85305
Rate Per Square Foot
Annualized Rate$0.00 $4.00 $8.00 $12.00 $16.00 $20.00
Suite
/Unit
Main
2 Bays
Shop
$10.20
$12.20
$16.50
AUTO REPAIR SHOP FOR SALE OR LEASE9625 N Cave Creek Rd., Phoenix, Az, 85020TENANT RENT ROLL
Fiscal Year Beginning June 2019
Page 12
DISCLAIMER: Year 5 sales price based on estimated NOI in year 6. All information is based on estimated forecast and are intendedfor the purpose of example projections and analysis. The information presented herein is provided as is, without warranty of any
kind. Century21 Commercial nor CRE Tech, Inc. assume any liability for errors or omissions. This information is not intended toreplace or serve as substitute for any legal, investment, real estate or other professional advice, consultation or service.
© Copyright 2011- 2019 CRE Tech, Inc. All Rights Reserved.
Randy ErwinCentury21 CommercialPhone: 602-418-1116Email: [email protected] W Glendale Ave, Glendale AZ 85305
For the Year Ending For the Year EndingYear 1Year 1
May-2020May-2020
Year 2Year 2
May-2021May-2021
Year 3Year 3
May-2022May-2022
Year 4Year 4
May-2023May-2023
Year 5Year 5
May-2024May-2024
Main Main Motor Car
Base Rent $49,200 $49,200 $49,200 $49,200 $49,200
- Turnover Vacancy $0 $0 $0 $0 $0
- Rent Concessions $0 $0 $0 $0 $0
+ Tenant Exp Reimb. $0 $0 $0 $0 $0
Net Tenant Income $49,200 $49,200 $49,200 $49,200 $49,200
For the Year Ending For the Year EndingYear 1Year 1
May-2020May-2020
Year 2Year 2
May-2021May-2021
Year 3Year 3
May-2022May-2022
Year 4Year 4
May-2023May-2023
Year 5Year 5
May-2024May-2024
2 Bays 2 Bays Auto Body
Base Rent $14,400 $14,400 $14,400 $14,400 $14,400
- Turnover Vacancy $0 $0 $0 $0 $0
- Rent Concessions $0 $0 $0 $0 $0
+ Tenant Exp Reimb. $0 $0 $0 $0 $0
Net Tenant Income $14,400 $14,400 $14,400 $14,400 $14,400
For the Year Ending For the Year EndingYear 1Year 1
May-2020May-2020
Year 2Year 2
May-2021May-2021
Year 3Year 3
May-2022May-2022
Year 4Year 4
May-2023May-2023
Year 5Year 5
May-2024May-2024
Shop Shop Machine Shop
Base Rent $13,200 $13,200 $13,200 $13,200 $13,200
- Turnover Vacancy $0 $0 $0 $0 $0
- Rent Concessions $0 $0 $0 $0 $0
+ Tenant Exp Reimb. $0 $0 $0 $0 $0
Net Tenant Income $13,200 $13,200 $13,200 $13,200 $13,200
TOTAL TOTAL Base Rent $76,800 $76,800 $76,800 $76,800 $76,800
- Turnover Vacancy $0 $0 $0 $0 $0
- Rent Concessions $0 $0 $0 $0 $0
+ Tenant Exp Reimb. $0 $0 $0 $0 $0
Total Tenant IncomeTotal Tenant Income $76,800 $76,800 $76,800 $76,800 $76,800
AUTO REPAIR SHOP FOR SALE OR LEASE9625 N Cave Creek Rd., Phoenix, Az, 85020ANNUAL TENANT INCOME DETAIL
Fiscal Year Beginning June 2019
Page 13
DISCLAIMER: Year 5 sales price based on estimated NOI in year 6. All information is based on estimated forecast and are intendedfor the purpose of example projections and analysis. The information presented herein is provided as is, without warranty of any
kind. Century21 Commercial nor CRE Tech, Inc. assume any liability for errors or omissions. This information is not intended toreplace or serve as substitute for any legal, investment, real estate or other professional advice, consultation or service.
© Copyright 2011- 2019 CRE Tech, Inc. All Rights Reserved.
Randy ErwinCentury21 CommercialPhone: 602-418-1116Email: [email protected] W Glendale Ave, Glendale AZ 85305
Lease Sq. Ft. Expiring Lease Sq. Ft. Expiring
For the Year Ending For the Year Ending
Year 1Year 1
May-2020May-2020
Year 2Year 2
May-2021May-2021
Year 3Year 3
May-2022May-2022
Year 4Year 4
May-2023May-2023
Year 5Year 5
May-2024May-2024
Main Main Motor Car 4,823
2 Bays 2 Bays Auto Body 1,180
Shop Shop Machine Shop 800
Total Square Feet Expiring Total Square Feet Expiring 6,803 0 0 0 0
Percent of Building Total Percent of Building Total 100% 0% 0% 0% 0%
Lease Expiration Rollover Analysis
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
Year 1Year 1 Year 2Year 2 Year 3Year 3 Year 4Year 4 Year 5Year 5
6,803
0 0 0 0
AUTO REPAIR SHOP FOR SALE OR LEASE9625 N Cave Creek Rd., Phoenix, Az, 85020LEASE EXPIRATION ROLLOVER ANALYSIS
Fiscal Year Beginning June 2019
Page 14
DISCLAIMER: Year 5 sales price based on estimated NOI in year 6. All information is based on estimated forecast and are intendedfor the purpose of example projections and analysis. The information presented herein is provided as is, without warranty of any
kind. Century21 Commercial nor CRE Tech, Inc. assume any liability for errors or omissions. This information is not intended toreplace or serve as substitute for any legal, investment, real estate or other professional advice, consultation or service.
© Copyright 2011- 2019 CRE Tech, Inc. All Rights Reserved.
Randy ErwinCentury21 CommercialPhone: 602-418-1116Email: [email protected] W Glendale Ave, Glendale AZ 85305
Real Estate TaxesReal Estate Taxes $5,923 $5,923 $5,923 $5,923 $5,923
Utilities - AnnualUtilities - Annual $9,900 $9,900 $9,900 $9,900 $9,900
TOTAL OPERATING EXPENSESTOTAL OPERATING EXPENSES $15,823 $15,823 $15,823 $15,823 $15,823 $15,823 $15,823 $15,823 $15,823 $15,823
NET OPERATING INCOME (NOI)NET OPERATING INCOME (NOI) $60,977 $60,977 $60,977 $60,977 $60,977 $60,977 $60,977 $60,977 $60,977 $60,977
For the Year EndingFor the Year EndingYear 1Year 1
May-2020May-2020
Year 2Year 2
May-2021May-2021
Year 3Year 3
May-2022May-2022
Year 4Year 4
May-2023May-2023
Year 5Year 5
May-2024May-2024
POTENTIAL RENTAL INCOME (PRI)POTENTIAL RENTAL INCOME (PRI)
Base Rental IncomeBase Rental Income $76,800 $76,800 $76,800 $76,800 $76,800
- Turnover Vacancy- Turnover Vacancy $0 $0 $0 $0 $0
- Rent Concessions- Rent Concessions $0 $0 $0 $0 $0
Total Base Rental IncomeTotal Base Rental Income $76,800 $76,800 $76,800 $76,800 $76,800
- General - General Vacancy / Credit LossVacancy / Credit Loss $0 $0 $0 $0 $0
EFFECTIVE RENTAL INCOME (ERI)EFFECTIVE RENTAL INCOME (ERI) $76,800 $76,800 $76,800 $76,800 $76,800 $76,800 $76,800 $76,800 $76,800 $76,800
+ Tenant Expense Reimbursements+ Tenant Expense Reimbursements $0 $0 $0 $0 $0
+ + Other IncomeOther Income $0 $0 $0 $0 $0
GROSS OPERATING INCOME (GOI)GROSS OPERATING INCOME (GOI) $76,800 $76,800 $76,800 $76,800 $76,800 $76,800 $76,800 $76,800 $76,800 $76,800
INCOMEINCOME
EXPENSE DETAILEXPENSE DETAIL
AUTO REPAIR SHOP FOR SALE OR LEASE9625 N Cave Creek Rd., Phoenix, Az, 85020EXPENSE DETAIL ANALYSIS
Fiscal Year Beginning June 2019
Page 15
DISCLAIMER: Year 5 sales price based on estimated NOI in year 6. All information is based on estimated forecast and are intendedfor the purpose of example projections and analysis. The information presented herein is provided as is, without warranty of any
kind. Century21 Commercial nor CRE Tech, Inc. assume any liability for errors or omissions. This information is not intended toreplace or serve as substitute for any legal, investment, real estate or other professional advice, consultation or service.
© Copyright 2011- 2019 CRE Tech, Inc. All Rights Reserved.
Randy ErwinCentury21 CommercialPhone: 602-418-1116Email: [email protected] W Glendale Ave, Glendale AZ 85305
Purchase PricePurchase Price $699,000
Year 1 Potential IncomeYear 1 Potential Income $76,800
Vacancy & Credit LossVacancy & Credit Loss 0.00%
Year 1 ExpensesYear 1 Expenses $15,823
Acquisition CAP RateAcquisition CAP Rate 8.72%
Sale Price - CAP RateSale Price - CAP Rate 699,000.00%
Acquisition CostsAcquisition Costs 2.00%
Annual Income IncreaseAnnual Income Increase 0.00%
Other Income IncreaseOther Income Increase 3.00%
Annual Expense IncreaseAnnual Expense Increase N/A
Loan Fees & PointsLoan Fees & Points %
Cost of Sale upon DispositionCost of Sale upon Disposition 5.00%
ASSUMPTION / INPUTSASSUMPTION / INPUTS
5-YEAR EQUITY YIELD & EFFECTIVE LOAN RATE5-YEAR EQUITY YIELD & EFFECTIVE LOAN RATE
Unleveraged InvestmentUnleveraged Investment
Cash Flow & 5-year YieldCash Flow & 5-year Yield
N $
0 ($712,980)
1 $60,977
2 $60,977
3 $60,977
4 $60,977
5 $60,977
+
Financing Cash FlowFinancing Cash Flow
& Effective Rate& Effective Rate
N $
0 $559,200
1 ($37,299)
2 ($37,299)
3 ($37,299)
4 ($37,299)
5 ($528,600)
=
Equity InvestmentEquity Investment
Cash Flow & 5-year YieldCash Flow & 5-year Yield
N $
0 ($153,780)
1 $23,678
2 $23,678
3 $23,678
4 $23,678
5 ($467,623)
Property IRR/Yield Property IRR/Yield = N/A= N/A Effective Loan Rate = 4.45%Effective Loan Rate = 4.45% Equity IRR/Yield = N/AEquity IRR/Yield = N/A
Neutral Leverage - The Equity Yield Remained the SAME with LeverageNeutral Leverage - The Equity Yield Remained the SAME with Leverage
21%
0%
31%
49%Cash Flow $ 23,678Cash Flow $ 23,678
Debt Service Expenses Cash Flow
Vacancy0.00
5.00
10.00
15.00
20.00
CAP RateCAP Rate Cash-on-CashCash-on-Cash IRRIRR
8.72
15.40
0.00
Investment Performance (%)Investment Performance (%)
AUTO REPAIR SHOP FOR SALE OR LEASE9625 N Cave Creek Rd., Phoenix, Az, 850205-YEAR CASH FLOW ANALYSIS
Fiscal Year Beginning June 2019
Page 16
DISCLAIMER: Year 5 sales price based on estimated NOI in year 6. All information is based on estimated forecast and are intendedfor the purpose of example projections and analysis. The information presented herein is provided as is, without warranty of any
kind. Century21 Commercial nor CRE Tech, Inc. assume any liability for errors or omissions. This information is not intended toreplace or serve as substitute for any legal, investment, real estate or other professional advice, consultation or service.
© Copyright 2011- 2019 CRE Tech, Inc. All Rights Reserved.
Randy ErwinCentury21 CommercialPhone: 602-418-1116Email: [email protected] W Glendale Ave, Glendale AZ 85305
602-418-1116
9040 W Glendale Ave, Glendale, AZ, 85305
CENTURY21 COMMERCIALRANDY ERWIN
©Copyright 2011-2019 CRE Tech, Inc. All Rights Reserved.
