221 Helena St E, Dayton Ohio 45404

Reserve of only $275,000!

41,500 sq foot multi-tenant office/warehouse on 3.28 Acres +/-

14 units, 84% rented. Many units under lease for the next 3-4 years.

$112,680.00 current income.

Potential of $170,000.00 income annually when fully rented at market rate.

Management is in place and has expressed an interest in staying on with new owners. Current management is able to handle all aspects of rental for potential out of state/country owners (tenant screening, leasing, rent collection, repairs, utility payments, etc.)

Unit descriptions:

Unit 221-223: 5,492 sq ft rented for $1,945/month with lease until 11/2015

Unit 227-231: 9,923 sq ft rented for $2,000/month with lease until 9/2015

Unit 233: 3,000 sq ft rented for $700/month until 1/2019

Unit 235: 3,000 sq ft rented for $700/month until 1/2019

Unit 237: 3,000 sq ft rented for $900/month until 5/2019 (lease rate increases $50/year)

Unit 239: 4,500 sq ft rented for $1,275/month until 1/2016

Unit 241: 4,500 sq ft rented for $1,500/month until 12/2017 (lease rate increases $50/year)

Unit 1224: 1,478 sq ft rented for $370/month on month to month basis

Unit 225: 3,000 sq ft vacant ($1,000/month potential)

Unit 1222: 1,379 sq ft vacant ($500/month potential)

Unit 1226: 1,108 sq ft vacant ($500/month potential)

Unit 1228: 1,106 sq ft vacant ($500/month potential)

Possible Owner Financing. Recent Board of Revision appraisal estimates the market value of this property to be $480,000.00. This appraisal was performed using the Direct Sales Comparison Approach and the Income Approach.

For income/expense or other information, please contact Shawn J. Dostie, Auctioneer @ (740) 502-1017.

Available for showing by appointment. For scheduling please contact Shawn Dostie.

Online Auction only. Auction to close April 15, 2015 starting at 10:30 Am in conjunction with other properties.

To bid,go to www.Proxibid.com/Gryphon

Terms and Conditions: Deposits: An initial deposit in the amount of $2,500 per property will be collected from the high bidders credit card at the conclusion of the auction. In the event the Initial Deposit of $2,500 is less than 10% of the total purchase price, an additional certified check making up the balance of a 10% deposit will be required to be delivered to Auction Firm the next business day following the conclusion of the auction along with the Purchase & Sale Agreement.

Closing is to be within 30 days. No contingencies. Properties sold as is where is with no warranty express or implied including merchantability for any particular purpose.

Buyers Premium: A 10% Buyers Premium will be added to the final bid price and included in the total sale price.

Complete Auction terms and conditions at auction site www.proxibid.com/gryphon

Industrial area of Dayton. Convenient to I 75.

Location Description:

Industrial area of Dayton. Convenient to I 75.

Highlights:

>> Online Auction

>> $112,080.00 current annual income with 84% +/- occupancy

>> $170,000.00 potential annual Income

* Email for additional photos

Sales Info:

>> Commision split: 3.0%