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    341 Trinity Avenue

    Chowchilla, CA 93610
    • $1,375,000
    • STATUS: Active
    • ON SITE: 253 days
    • ID#: MC20013882
    UPDATED: 44 min ago
    $1,375,000
    • 0
      BEDS
    • 0.24
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 8,055
      SQFT
    • $171
      $/SQFT
    Type:
    Commercial
    Built:
    2009
    County:

    School Ratings & Info

    Description

    The Trinity Office Building is a very attractive modern multi-tenant office building built in 2009. It is fully occupied with 5 separate tenants (including owner who will lease back for 5 years with a 5-year renewal option). Based upon Gross Scheduled Rents of $135,588 / year (i.e. current rents of $11,299 / month) the asking price represent a 7.03% Capitalization Rate. With a 30% down payment + estimated 2% closing costs the Cash on Cash rate of return is projected to be 8.47% (based upon a 3.90% fixed for 5 years interest rate, a 25-year amortization schedule, a 5-year interest rate reset and a 10-year balloon/refinance. With said financing the debt coverage ratio is 1.6 and the cash flow before taxes + principal reduction over the first year of the loan is eqaul to 4.33% of the listed price of $1,375,000. Beautiful 'Pride of Ownership' property located within 2 blocks of City Hall, 1 block from City's primary arterial, Robertson Boulevard and across the street from the Camarena Health Center and the Family Resources Center. There is parking behind the building off of the alley and also the building has 9 designated parking spaces in the City Maintained Public Parking Lot across 4th Street from the building.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-09-30T20:32:44.3. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or American Real Estate List & Sell. Licensed in the State of California, USA.

    www.americanrealestatehomes.com/homes/102448595
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    341 Trinity Avenue Chowchilla, CA 93610

    • Price: $1,375,000
    • Status: Active
    • Updated: 44 min ago
    • ID#: MC20013882
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.24
    Acres
    8,055
    SQFT
    $171
    $/SQFT
    2009
    Built
    County:
    Madera
    Property Description
    The Trinity Office Building is a very attractive modern multi-tenant office building built in 2009. It is fully occupied with 5 separate tenants (including owner who will lease back for 5 years with a 5-year renewal option). Based upon Gross Scheduled Rents of $135,588 / year (i.e. current rents of $11,299 / month) the asking price represent a 7.03% Capitalization Rate. With a 30% down payment + estimated 2% closing costs the Cash on Cash rate of return is projected to be 8.47% (based upon a 3.90% fixed for 5 years interest rate, a 25-year amortization schedule, a 5-year interest rate reset and a 10-year balloon/refinance. With said financing the debt coverage ratio is 1.6 and the cash flow before taxes + principal reduction over the first year of the loan is eqaul to 4.33% of the listed price of $1,375,000. Beautiful 'Pride of Ownership' property located within 2 blocks of City Hall, 1 block from City's primary arterial, Robertson Boulevard and across the street from the Camarena Health Center and the Family Resources Center. There is parking behind the building off of the alley and also the building has 9 designated parking spaces in the City Maintained Public Parking Lot across 4th Street from the building.
    Exterior Features

    Construction Materials Stucco Fence YN No Fencing None Lot Features Corner LotRectangular Lot Lot Size Dimensions 10500 Lot Size Source Assessor Lot Size Units Square Feet

    Interior Features

    Condo Area Units Square Feet Cooling Central AirDualZonedElectricGas Cooling YN Yes Laundry Features None

    Property Features

    Accounting Type Proforma Additional Parcels YN No Asset Class Office Building Area Units Square Feet Building Status Existing Cap Rate 7.21 Country Us Effective Gross 122539 Electric Expense 5214.00 Gross Scheduled Income 125040.00 Insurance Expense 2910.00 Land Use Office Laundry YN No Leasable Area Units Square Feet Lot Dimensions Source Assessor Maintenance Expense 6982.00 Max Total Area Units Square Feet Min Total Area Units Square Feet Net Operating Income 88321.00 Number Of Units Leased 5 Occupancy Occupied Operating Expense 34218.00 Other Expense 1200.00 Professional Management Expense 4902.00 Property Sub Type Office Real Estate Tax Expense 13010.00 Special Listing Conditions Standard Tax Annual Amount 13009.00 Tax Rate 1.06 Tax Year 20192020 Utilities Cable AvailableElectricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater Connected Vacancy Allowance 2501 Vacancy Allowance Rate 2.00 Water Source Public

    Listing provided courtesy of Steve Tinetti of Tinetti Realty Group


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-09-30T20:32:44.3. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or American Real Estate List & Sell. Licensed in the State of California, USA.

     
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