Coldwell Banker Commercial Southwest
www.coldwellbusiness.com
Property ID: 72480
Property Type: Retail
Property Address:
301 South Saint Charles Street
Brenham, TX 77833
County: Washington
Price: $345,547
Property Size: 1,742 Sq. Ft. |
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Property Description
The Retail Development Team of Coldwell Banker Commercial Southwest Partners (“CBC”) is proud to represent the Cub’s Den of Brenham building, a corner 1850’s historic downtown building with 1,800 SF downstairs of retail space plus 1,800 SF luxury custom upstairs loft. (3,600 SF total)
THE CUB’S DEN BUILDING WITH UPSTAIRS LUXURY LOFT is very competitively priced at $345,547 with 100% financing available +
6% buyer broker commission + 5% or 8% buyer cash back at close!
The Cub’s Den Business will be offered for sale once financial analysis is completed.
HIGHLIGHTS
(1) Renovated by downtown Brenham area historical building owner and restoration expert.
(2) Great investment opportunity for:
a. an owner operator of a professional or retail business to operate downstairs and live upstairs in the loft
b.loft living with commercial rental for cash flow and tax benefits
c.business operator to occupy downstairs and rent the upstairs luxury loft for cash flow and tax benefits.
(3) Proforma cap rate 7.65% of by renting both units based on detailed assumptions defined in proforma including a 20% of gross operating income expenses in a reserve.
(4) Extraordinary financial package including potential 100% financing combined with up to 8% buyer cash back at close!
(5) The Cub’s Den business will be offered for sale and the combined real estate and business will be eligible for SBA financing depending on your qualifications.
(6) Top 5 categories of unmet local retail demand average $570K at a 1-mile radius, $950K at a 2-mile radius, $1.2M at a 3-mile radius.
(7) Top 2 categories of unmet demand for merchandise normally sold in department stores (GAFO) are “electronics & appliances” ($1.1+ M at 2 mile-radius) and “sporting goods, hobbies, books & music” ($1.7+M at 2-mile radius).
(8) $368+M estimated 2008 local economy at a 3-mile radius, growing by 4.3% per year and projected to exceed $450M in 2013.
(9) Brenham experiencing rapid wealth expansion with a 30% annual growth in household with incomes of least $100K from 2008 through 2013, 20% in household with incomes of least of at least $150K, and 120% in households with incomes of at least $250K.
(10) 60 miles from Bastrop and 62 miles from West Houston at the US 290 W and Beltway interchange.
(11) 78 miles from Bush Intercontinental Airport and 83 miles from Austin-Bergstrom International Airport.
CONTACT INFORMATION
Call 979.421.9996 to contact any member of the Retail Development Team of CBC to set up an appointment, request additional information or answer any questions. You can also contact the Team by email at InvestInDownTownBrenham@CBCWorldWideSouthWestPartners.com.
INTERNET LINKS
(1) Dedicated website:
http://www.loopnet.com/xNet/mainsite/Flash/Profile.aspx?LID=157950 90
(2) Professional listing link:
http://www.landsofamerica.com/america/index.cfm?Detail=&INV_I D=166330
(3) Link with all graphics in downloadable PDF and JPG formats:
http://listing.loopnet.com/15795090
OWNER FINANCING
The owner will consider a subordinated loan to assist a qualified buyer with a down payment required by a lender. A decision on any such loan is at the complete discretion of the owner.
CASH BACK
Assuming a sale at list price, you receive 8% cash back at close if you are represented by a CBC team. If you are represented by another broker you receive 5% cash back at close.
PROFORMA CAP RATE
Projected first year cash flow of $5,061 based on net operating income of $26,720.
Downstairs rental at $1,800 per month. Upstairs loft at $2,000 per month. Assumes 10% vacancy and credit loss.
Based on an 80% conforming loan (plus 1% point and 1% other closing costs) at 7% amortized over 30 years with $26,151 annual debt service.
Detailed expenses including taxes, insurance, management fees, maintenance, contracted services and 20% of effective rental income as a "capital reserve".
TAXES
Estimated 2008 taxes of $1,456.39 are based on 2007 reported paid taxes of $1,266.43 and increased by 15% for 2008. Consult your tax advisor regarding your expected taxes.
EMAIL TO YOU WHEN WE LIST NEW PROPERTIES THAT MEET YOUR SPECIFICATIONS
We offer immediate email contact when we list properties in categories you have expressed an interest.
Please send an email to PriorityListings@CBCWorldWideSouthwestPartners.com with your specifications.
DISCLOSURES & COPYRIGHTS
CBC is a wholly owned franchise of Alexander Tiffany Southwest, LLC. Analysis is preliminary, based on proprietary systems and models, is time sensitive and based on assumptions- stated and unstated. Graphics are only renderings. Measurements are only estimates. No warranties are expressed or implied. All content is protected by copyright laws, is only for prospects or legal representatives, and should not replace buyers own due diligence and analysis. Any other use is prohibited. |
Financial Summary
OWNER FINANCING
The owner will consider a subordinated loan to assist a qualified buyer with a down payment required by a lender. A decision on any such loan is at the complete discretion of the owner.
CASH BACK
Assuming a sale at list price, you receive 8% cash back at close if you are represented by a CBC team. If you are represented by another broker you receive 5% cash back at close.
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Attached Documents
No Attached Documents |
Contact Information
Company: Coldwell Banker Commercial Southwest
Name: Administrator
Email: Click Here to Email
Phone: 979.421.9996
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