Multi-Family & HUGE Storage Investment 20000 SF, in New York ★
(Ithaca, NY USA)
Looking to purchase a investment property in Ithaca, NY (College Town)for $375,000.
It is a Large Commercial and Residential building with Huge Storage space 17,000 SQ-FT , in the heart of a Cornell University, in Upstate NY.
Income is made from the tenants: Doctor's Office, 3Bed 2Bath, and Large Storage Space which is in a College Town. The Current Net Operating Income is $36,000 the Current Occupancy is 50%.
I'm looking for a 15yrs - 30yrs Fixed Loan
I'm planning on using storage space for Company / College and Job Fairs /
Or it can be Fully Converted in a Normal HUGE Storage Space
allowing the occupancy rate to dramatically raise from 51% to 90%,
causing the (NOI) to a expand $45000 - $60000 Dollars.
Let me know if your company can support this investment project.
I'm looking at long term fixed loans, 15 / 20 / 25 / 30yr
4% - 7% Interest
100% - 125% Financing
1) (Current Income) $36,000 / $375,000 = 0.96 (10% Cap Rate)
2) (Storage Improvement Projection) $45,000 - $60,000 / $390,000 = (12% - 15% Cap Rate)
646 450 9212
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