confidentiality agreement and disclaimer
TRANSCRIPT
Phil Auberg 206-755-3294 [email protected] www.TheIrwinGroup.com
Irwin Group Realty 15602 Main St NE, #120
P.O. Box 190 Duvall, WA 98019
Confidentiality Agreement and Disclaimer
The information contained in the attached Marketing and Investment package is proprietary and strictly confidential. It is intended for review only by the party receiving it from Irwin Group Realty and should not be made available to any other person or entity without the written consent of Irwin Group Realty. This Marketing and Investment package has been prepared to provide summary, unverified information to prospective purchasers, and to establish a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Irwin Group Realty has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in the Marketing and Investment package has been obtained from sources we believe to be reliable. Irwin Group Realty has not verified, and will not verify, any of the information contained herein, nor has Irwin Group Realty conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
Phil Auberg 206-755-3294 [email protected] www.TheIrwinGroup.com
Irwin Group Realty 15602 Main St NE, #120
P.O. Box 190 Duvall, WA 98019
Table of Contents
1. Survey of Property 2. Buildable Area Plan 3. Zoning Change – Seattle city proposal 4. Lot Development Plan 5. Form 17 – Seller’s Disclosure
TO
PO
GR
APH
IC
& BO
UN
DAR
Y SU
RVEY
TOPOGRAPHIC & BOUNDARY SURVEY
BASIS OF BEARINGS
LEGAL DESCRIPTION
VERTICAL DATUM
SURVEYOR'S NOTES
LEGEND
VICINITY MAP
N.T.S.
REFERENCES
SKL R
AIN
IER
BEAC
H
NTSCONTROL MAP
15' s
teep s
lope b
uffe
r, appears
to b
e
exem
pt p
er A
pril 1
9, 2
005 d
ecis
ion
50' w
etla
nd b
uffe
r sh
ow
n sh
aded
35' w
etla
nd b
uffe
r show
n h
atc
hed
existin
g
alle
y
2495sf
1569sf
wetla
nds b
uffe
r avera
gin
g
35' w
etla
nd b
uffe
r show
n h
atc
hed
existin
g
alle
y
2495sf
Wetla
nd B
oundary
LO
T 8
PA
RA
CEL# 7
129304710
LO
T 7
PA
RA
CEL# 7
129304705
+/-
5290 sf A
partment
Bu
ilding footprint42'-0"
+/-
5290 sf B
uildable area
35' w
etla
nd b
uffe
r show
n h
atc
hed
existin
g
alle
y
2495sf
6 live work tow
nhouses
along 57th st
2 more to
wnhou
ses off alley, buyer to verify access
wetla
nds b
uffe
r avera
gin
g
Wetla
nd B
oundary
Wetla
nd B
oundary
Development Concept
Proposal - Develop mixed use commercial/residential building at 9275 57th Ave S, Seattle. Sell building upon
Assumptions:1. Location - 9275 57th Ave S, Seattle WA2. Zoning - NC1-40 (current - will permit building with 4 floors)3. Total footprint of building - 5290 square feet4. Total square footage - 21,160 square feet (4 floors)5. Total Units (4 floors) - 2 Commercial, 21 Residential6. Construction efficiency (square footage utilization) - 80% 7. Total Rentable square footage - 16,928 sf (4 floors)8. Configuration - 1st floor - 1/2 Commercial space, 1/2 Residential space9. Configuration - 2nd through 4th floors - Residential space10. Sale Pricing - Commercial space - Rainier Beach area - $450/sf11. Sale Pricing - Residential MF space - Rainier Beach area - $425/sf12. Rental rate - Commercial space - Rainier Beach area - $2.50/sf/month13. Rental rate - Residential MF space - Rainier Beach area - $2.39/sf/month
Development Cost Estimates
Building Construction - permitting, utilities, etc. - 4 story building - 23 units (on lots 7,8) $3,385,600Purchase land $560,000Land clearing $100,000Alley permits $25,000Alley - development - paving, curbs, etc. $150,000Easements $200,000Total development cost $4,420,600
Revenue EstimatesSales Price Calculation - based on Market Rental Rates with 5% CAP
Annual Gross Income - Commercial ($2.50/sf/month - 2116 sf - $5,290/mo) $63,480Annual Gross Income - Residential ($2.39/sf/month - 14,812 sf - $35,401/mo) $424,808Gross Scheduled Income (GSI) $488,288Expenses (18% of GSI) $87,892Net Operating Income (NOI) $400,396Total Sales Price at 5% CAP rate $8,007,923Profit Margin 44.80%
Phil Auberg Irwin Group Realty 20 November 2018