MULTIFAMILY INVESTMENT PROPERTY FOR SALE · Brand new Investment Duplex near HCC & Stadium. Two...

CONFIDENTIAL OFFERING MEMORANDUM • FEBRUARY 12, 2018

Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com

4210 N Coolidge Ave, Tampa, FL 33614

4210 N COOLIDGE - INCOME/ INVESTMENT DUPLEXES

Derek M. Seckinger Kari L. Grimaldi/ Broker813.882.0884 [email protected] [email protected]

MULTIFAMILY INVESTMENT PROPERTY FOR SALE

https://www.grimaldicommercialrealty.com/index.php


MULTIFAMILY PROPERTY FOR SALE

2

presented by:

PROPERTY INFORMATION 3

SALE COMPARABLES 15

ADVISOR BIOS 16

Commercial / Industrial PropertySales AssociateO: 813.882.0884C: 813.344.6552E: [email protected]

Derek M. Seckinger

President/ BrokerO: 813.882.0884C: 813.376.3386E: [email protected]

Kari L. Grimaldi/ Broker

The information contained in the following offering memorandum is proprietary and strictlyconfidential. It is intended to be reviewed only by the party receiving it from GrimaldiCommercial Realty and it should not be made available to any other person or entity withoutthe written consent of Grimaldi Commercial Realty.

By taking possession of and reviewing the information contained herein the recipient agrees tohold and treat all such information in the strictest confidence.

The recipient further agrees that recipient will not photocopy or duplicate any part of theoffering memorandum. If you have no interest in the subject property, please promptly returnthis offering memorandum to Grimaldi Commercial Realty.

This offering memorandum has been prepared to provide summary, unverified financial andphysical information to prospective purchasers, and to establish only a preliminary level ofinterest in the subject property.

The information contained herein is not a substitute for a thorough due diligenceinvestigation.

Grimaldi Commercial Realty has not made any investigation, and makes no warranty orrepresentation with respect to the income or expenses for the subject property, the futureprojected financial performance of the property, the size and square footage of the propertyand improvements, the presence of absence of contaminating substances, PCBs or asbestos,the compliance with local, state and federal regulations, the physical condition of theimprovements thereon, or financial condition or business prospects of any tenant, or anytenant’s plans or intentions to continue its occupancy of the subject property.

The information contained in this offering memorandum has been obtained from sources webelieve reliable; however, Grimaldi Commercial Realty has not verified, and will not verify, anyof the information contained herein, nor has Grimaldi Commercial Realty conducted anyinvestigation regarding these matters and makes no warranty or representation whatsoeverregarding the accuracy or completeness of the information provided.

All potential buyers must take appropriate measures to verify all of the information set forthherein.

Prospective buyers shall be responsible for their costs and expenses of investigating thesubject property.

CONTENTS CONFIDENTIALITY & DISCLAIMER



TABLE OF CONTENTS


PROPERTY INFORMATION


SECTION 1 • PROPERTY INFORMATION

4

OFFERING SUMMARY

Sale Price: $425,000

Number Of Units: 2

Cap Rate: 9.13%

NOI: $38,800

Available SF: 0 SF

Lot Size: 0.23 Acres

Year Built: 2018

Building Size: 3,000 SF

Zoning: RM-16

Market: Tampa Stadium/ Drew

Park

Price / SF: $141.67

AVAILABLE SPACES

SPACE LEASE RATE LEASE TYPE SIZE (SF)

For Lease Negotiable 0 SF

PROPERTY OVERVIEWBrand new Investment Duplex near HCC & Stadium.

Two sets of duplexes (4 units) can be sold together or separate.

Two Brand New Rental Duplex's to be completed February 2018. Each unit is$425,000, with 2 x 1,500 sf, 3 bedroom, 2 bath. Custom cabinetry, granitecounter tops, 9 foot ceilings throughout, specialty flooring and lighting.

Enclosed garage with spacious fenced yard. Stainless Steel Appliances, and newWasher/ Dryer. Near HCC, St. Joseph's Hospital, Raymond James Stadium,Airport, International Mall. Four miles NW of downtown. Centrally located- getanywhere in town in under 15 min.

Airport Area, just south of W. MLK, between Air Cargo Rd.



EXECUTIVE SUMMARY




5

PROPERTY OVERVIEW

Brand new Investment Duplex near HCC & Stadium.

Two sets of duplexes (4 units) can be sold together or separate.

Two Brand New Rental Duplex's to be completed October 2017.Each unit is $425,000, with 1,500 sf, 3 bedroom, 2 bath. Customcabinetry, granite counter tops, 9 foot ceilings throughout,specialty flooring and lighting. Enclosed garage with spaciousfenced yard.

Near HCC, St. Joseph's Hospital, Raymond James Stadium,Airport, International Mall. Four miles NW of downtown.Centrally located- get anywhere in town in under 15 min.

Airport Area, just south of W. MLK, between Air Cargo Rd.

LOCATION OVERVIEW

Conveniently Located Between Air Cargo Rd. and W. Ohio Rd.



PROPERTY DESCRIPTION




6

SALE HIGHLIGHTS• New Construction Duplex - To Be Completed

February, 2018

• Excellent investment/ Income Producing

Property

• 3 Bedrooms / 2 full baths / 9 foot ceilings /

Garage / Fenced Yard

• Stainless Steel Appliances - Included NEW

Washer/ Dryer

• Custom Cabinetry with Granite Counter tops

• Block Construction and Stucco with high

quality finishes

• Spacious units, 3,000 sf/$425,000 each unit



COMPLETE HIGHLIGHTS




7



LOCATION MAPS




8

4210 N Coolidge - Income/Investment Duplexes



AERIAL MAP




9

1 MILE 5 MILES 10 MILES

Total population 1,303 244,371 670,637

Median age 32.2 36.2 35.8

Median age (male) 32.2 34.8 34.5

Median age (female) 29.7 37.7 37.0

1 MILE 5 MILES 10 MILES

Total households 433 100,798 268,982

Total persons per HH 3.0 2.4 2.5

Average HH income $34,984 $64,194 $63,377

Average house value $156,362 $278,151 $275,256

* Demographic data derived from 2010 US Census



DEMOGRAPHICS REPORT




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POPULATION 1 MILE 5 MILES 10 MILES

Total population 1,303 244,371 670,637

Median age 32.2 36.2 35.8

Median age (male) 32.2 34.8 34.5

Median age (Female) 29.7 37.7 37.0

HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES

Total households 433 100,798 268,982

# of persons per HH 3.0 2.4 2.5

Average HH income $34,984 $64,194 $63,377

Average house value $156,362 $278,151 $275,256

* Demographic data derived from 2010 US Census



DEMOGRAPHICS MAP




11

INVESTMENT OVERVIEW

Price $425,000

Price per Unit $212,500

GRM -

CAP Rate 9.1%

Cash-on-Cash Return (yr 1) - %

Total Return (yr 1) -

Debt Coverage Ratio -

OPERATING DATA

Gross Scheduled Income $45,000

Other Income -

Total Scheduled Income -

Vacancy Cost -

Gross Income -

Operating Expenses 6200

Net Operating Income $38,800

Pre-Tax Cash Flow -

FINANCING DATA

Down Payment -

Loan Amount -

Debt Service -

Debt Service Monthly -

Principal Reduction (yr 1) -



FINANCIAL SUMMARY




12

INCOME SUMMARY

Gross Income -

EXPENSE SUMMARY

Gross Expenses -

Net Operating Income $38,800



INCOME & EXPENSES




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UNITNUMBER

UNITBED

UNITBATH

UNITSIZE(SF)

CURRENTRENT (PER

SF)MARKET

RENT STATUS LENGTH

MARKETRENT/

SFSECURITYDEPOSIT

3 2 1,500 $1,875 $1.25 $1,500

3 2 1,500 $1,875 $1.25 $1,500

Totals/Averages

3,000 $0.00 $3,750 $1.25 $3,000

Actual Gross Potential Rent* $0

Projected Gross Potential Rent** $45,000

*Actual Gross Potential Rent is based on current rents.**Projected Gross Potential Rent is based on market rents.



RENT ROLL




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UNIT TYPE COUNT % TOTAL SIZE (SF) RENT/SF MARKET RENT MARKET RENT/SF

3/2 2 100.0 1,500 $1,875 $1.25

Totals/Averages 2 100% 3,000 $0.00 $3,750 $1.25



UNIT MIX SUMMARY


SALE COMPARABLES

ADVISOR BIOS


SECTION 3 • ADVISOR BIOS

17

115 W Bearss AveTampa, FL 33613T 813.882.0884C [email protected]

PROFESSIONAL BACKGROUND

Derek Seckinger, Sales associate, is a Sales and Marketing Professional with 25years of experience in sales, as a former business owner, V.P., Sales Trainer,and in related sales and marketing executive titles. Derek is a consummateprofessional and people person, who is drawn to work that help both peopleand companies grow. In his diligent work ethic, Derek is a firm believer in beingproactive and in making things happen rather than waiting for them to happen.Feeling blessed in life, Derek always has a positive outlook. He is a serialentrepreneur and believes in the American dream, that if you work hardenough, you can accomplish anything.

Experience in the following:Contract negotiations and due diligenceInvestment & Financial AnalysisWarehouse & Industrial Sales & LeasingRetail Sales & LeasingOffice Sales & Leasing1031 ExchangesLand & Commercial DevelopmentProperty ValuationLand Sales & Development

EDUCATION

Tampa native since 1981, Derek attended several major universities around thecountry before completing a double major in International BusinessManagement and Business Finance from University of Phoenix.

DEREK M. SECKINGER

Commercial / Industrial Property Sales Associate



ADVISOR BIO & CONTACT 1



SECTION 3 • ADVISOR BIOS

18

115 W Bearss AveTampa, FL 33613T 813.882.0884C [email protected] #BK3076744

PROFESSIONAL BACKGROUND

Kari Grimaldi is a Managing Broker/President of Grimaldi Commercial Realty Corp. andcommercial real estate expert. Kari has quickly climbed the ranks of who’s who inTampa Bay Area Commercial Real Estate to become a Top Producer. Learning & joiningthe family business at an early age, Kari understands the importance of networkingand building relationships, and has accumulated 20+ years of experience and in-depthknowledge to execute and navigate commercial real estate transactions for Sellers,Buyers, and Landlords/Tenants from inception to closing. Kari has an extensive resumewith some of the highlights listed below:

Areas of Expertise:Office and Build to Suit Sales & LeasingMedical Office Sales & LeasingResale & Leasing of Office ParksRetail Sales & LeasingIndustrial Sales & LeasingMulti family InvestmentsSingle NNN National InvestmentsLand & Commercial DevelopmentForeign Investors & Investment SpecialistSeller Finance and Creative Financing1031 & Reverse ExchangesShort Sales & Distressed/Bank-owned assets

As a commercial real estate owner and investor herself, she knows first hand how toguide others through the process, and negotiate and close transactions successfully.Kari has a vast portfolio of closed transactions in all sectors of the commercial market,and is a multi-million dollar sales producer.

EDUCATION

A Florida native, Kari earned her Bachelors at University of Florida in Management andPsychology, and a Masters at University of South Florida. A consummate professional,Kari is continually educating herself on the latest economic and market trends withcontinuing education, seminars and networking.

MEMBERSHIPS & AFFILIATIONS

Member of NAR, FAR, and FGCAR- Association of RealtorsREIC Member- Real Estate Investment CouncilCCIM Candidate- Certified Commercial Investment MemberICSC Member- International Council of Shopping Centers

KARI L. GRIMALDI/ BROKER

President/ Broker



ADVISOR BIO & CONTACT 2


MULTIFAMILY INVESTMENT PROPERTY FOR SALE · Brand new Investment Duplex near HCC & Stadium. Two...

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