1031 Investments and links to other 1031 Investments

1031 Investments
and links to other
1031 Investments Properties

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1031 Investments and links to other 1031 Investments

1031 Investments and links to other 1031 Investments
New Jersey
1031 Propert (#pnnnsBLOCKBUSTERnj 16 D)

1031 Investment Tenant:     Blockbuster Video

Size of Building:       6,565 Square Feet Free- Standing Building

Land Area:       19,602 Square Feet

Lease Term:       5-Year Primary Lease term.

Options:       There are 3 Options Renewal Periods. Each option is for 5 years.

Lease Type:       NNN - ABSOLUTE TRIPLE NET with NO Landlord responsibilities to the buyer. Tenant is responsible for ALL expenses, including property taxes, maintenance, repairs, all insurance, roof and structure, and all other costs.

Rent Commencement Date:       January 15, 2001

Annual Rental Income (NOI):       From years 1 through year 5 $98,474 Rental Increases:       Yes

Price:       $600,000

Capitalization Rate (CAP):       16%

Lease Guarantor (Primary Signatory):       Blockbuster Inc.

Terms of Sale:       Cash at Closing

Remarks:      Seller looking to sell this property quickly. New discounted purchase price is $600,000. The net income is expected to be $97,000. The CAP rate is an estimated 16 percent based on these figures. The rent blockbuster is paying is $15 per square foot, which is approximately $3 above what the previous video tenant was paying. The current debt on the property is $450,000. In addition, Seller would consider providing some seller financing. Seller would also consider partnering with someone, however, would prefer to free up his cash for another transaction.

The building is a one story detached masonry retail store building. The current tenant, will be moving out after seven years of occupancy. Blockbuster Inc. will be moving in with a 20 year lease beginning on January 15, 2001. The interior of the building consists of one large open retail display room with two small rooms partitioned at the rear corners of the building. These two partitioned areas have the same interior finish as the large front retail store area and are used for a combination of storage and/or office purposes. There is also a small two fixture lavatory with an exhaust fan at the rear corner of the building.

Blockbuster Inc will be making $130,000 in improvements on the site and will take occupancy January 15, 2001.

Next to a Gas Station, new Auto Zone behind, close to CVS, Osco, and a community Hospital.

Age: Approximately 15 years old. Totally renovated in 1995. Building was gutted and fitted with torch grade rubber roof, as well as new HVAC and electrical system

Parking: Off street parking with over 13,869 square feet or 40 dedicated parking spaces.

Zoning: B-4 General Business: Municipal buildings and governmental uses, retail stores and shops, personal services shops and stores, restaurants, auditoriums, gyms, banks, professional and business offices, supermarkets, hardware stores, appliance stores, furniture stores, ect.

Electric: Updated in 1995 Central Air: FHA/gas Heating: FHA/gas Exterior: Stucco Available: Immediately

DEMOGRAPHICS/TRAFFIC COUNT Area Population/Households Based on a 1, 3, and 5 mile radius, it is apparent that this is a high density population area. More specifically, it is projected that 11,919, 26,917, and 43,390 people will live within a respective 1, 3, and 5 mile radius of the site in 2001. From a household perspective, 4,630, 10,399, and 16,477 households are projected for a respective 1, 3 and five mile radius of the site in 2001.

Area Traffic Count Based on a 1, 3, and 5 mile radius from 801 North High Street, it is apparent that this is an extremely high vehicle traffic area. More specifically, it is projected that 10,300, 13,210-23,930, and 19,260-20,470 vehicles travel within a respective 1, 3, and 5 mile radius of the site in 2001.

ZONING AND NEIGHBORHOOD The property is located within an area zoned "B-4 General Business" on the latest issue of the City Map. Permitted uses, area, and yard requirements in a B-4 zone, excerpted from the zoning ordinance, together with a copy of the zoning map with the subject property identified follows in this report.

As has been the case in many communities, there has been a tendency for retail commercial businesses to move out of the central business districts into outlying areas, where plentiful on- site parking is available. The subject property is located approximately mid-way between the central business district to the south and the areas of newer stores and shopping centers with on- site parking to the north.

The property enjoys excellent "off street" parking, to the South of the building. There is a Citgo service station adjoining the subject property to the north. There are one and two family residential dwellings opposite the subject property, intermixed with several commercial occupancies, including one combination residence and Real Estate Office. There is a newly constructed, very large, Rite Aid Pharmacy about two doors to the north of the subject property.

Other improved commercial properties in the immediate area include banks and fast food stores. The City Liquor store is located about a half block south of the subject property. The property immediately adjoining the subject property to the south consists of an automotive supply store. To the north of the subject property is a large Hospital. On both the north and south sides of the hospital, there are a number of buildings occupied by doctors and other professional people having business with patients in the hospitals.

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The 1031 Investments contained herein have been obtained from sources of 1031 Investments believed to be reliable. While we do not doubt the accuracy of these 1031 Investments, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the 1031 Investments information. As a buyer of 1031 Investments, it is your responsibility to independently confirm the accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the 1031 Investments. The value of these 1031 Investments to you depend on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of these 1031 Investments to determine to your satisfaction the suitability of the property for your needs. By requesting further information, you agree to indemnify Quality Real Estate and shall hold Quality Real Estate harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of these 1031 Investments.

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