multifamily investment property for sale · brand new investment duplex near hcc & stadium. two...
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CONFIDENTIAL OFFERING MEMORANDUM • FEBRUARY 12, 2018
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
4210 N Coolidge Ave, Tampa, FL 33614
4210 N COOLIDGE - INCOME/ INVESTMENT DUPLEXES
Derek M. Seckinger Kari L. Grimaldi/ Broker813.882.0884 [email protected] [email protected]
MULTIFAMILY INVESTMENT PROPERTY FOR SALE
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
MULTIFAMILY PROPERTY FOR SALE
2
presented by:
PROPERTY INFORMATION 3
SALE COMPARABLES 15
ADVISOR BIOS 16
Commercial / Industrial PropertySales AssociateO: 813.882.0884C: 813.344.6552E: [email protected]
Derek M. Seckinger
President/ BrokerO: 813.882.0884C: 813.376.3386E: [email protected]
Kari L. Grimaldi/ Broker
The information contained in the following offering memorandum is proprietary and strictlyconfidential. It is intended to be reviewed only by the party receiving it from GrimaldiCommercial Realty and it should not be made available to any other person or entity withoutthe written consent of Grimaldi Commercial Realty.
By taking possession of and reviewing the information contained herein the recipient agrees tohold and treat all such information in the strictest confidence.
The recipient further agrees that recipient will not photocopy or duplicate any part of theoffering memorandum. If you have no interest in the subject property, please promptly returnthis offering memorandum to Grimaldi Commercial Realty.
This offering memorandum has been prepared to provide summary, unverified financial andphysical information to prospective purchasers, and to establish only a preliminary level ofinterest in the subject property.
The information contained herein is not a substitute for a thorough due diligenceinvestigation.
Grimaldi Commercial Realty has not made any investigation, and makes no warranty orrepresentation with respect to the income or expenses for the subject property, the futureprojected financial performance of the property, the size and square footage of the propertyand improvements, the presence of absence of contaminating substances, PCBs or asbestos,the compliance with local, state and federal regulations, the physical condition of theimprovements thereon, or financial condition or business prospects of any tenant, or anytenant’s plans or intentions to continue its occupancy of the subject property.
The information contained in this offering memorandum has been obtained from sources webelieve reliable; however, Grimaldi Commercial Realty has not verified, and will not verify, anyof the information contained herein, nor has Grimaldi Commercial Realty conducted anyinvestigation regarding these matters and makes no warranty or representation whatsoeverregarding the accuracy or completeness of the information provided.
All potential buyers must take appropriate measures to verify all of the information set forthherein.
Prospective buyers shall be responsible for their costs and expenses of investigating thesubject property.
CONTENTS CONFIDENTIALITY & DISCLAIMER
4210 N COOLIDGE - INCOME/ INVESTMENT DUPLEXES
4210 N Coolidge Ave, Tampa, FL 33614
TABLE OF CONTENTS
PROPERTY INFORMATION
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
SECTION 1 • PROPERTY INFORMATION
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OFFERING SUMMARY
Sale Price: $425,000
Number Of Units: 2
Cap Rate: 9.13%
NOI: $38,800
Available SF: 0 SF
Lot Size: 0.23 Acres
Year Built: 2018
Building Size: 3,000 SF
Zoning: RM-16
Market: Tampa Stadium/ Drew
Park
Price / SF: $141.67
AVAILABLE SPACES
SPACE LEASE RATE LEASE TYPE SIZE (SF)
For Lease Negotiable 0 SF
PROPERTY OVERVIEWBrand new Investment Duplex near HCC & Stadium.
Two sets of duplexes (4 units) can be sold together or separate.
Two Brand New Rental Duplex's to be completed February 2018. Each unit is$425,000, with 2 x 1,500 sf, 3 bedroom, 2 bath. Custom cabinetry, granitecounter tops, 9 foot ceilings throughout, specialty flooring and lighting.
Enclosed garage with spacious fenced yard. Stainless Steel Appliances, and newWasher/ Dryer. Near HCC, St. Joseph's Hospital, Raymond James Stadium,Airport, International Mall. Four miles NW of downtown. Centrally located- getanywhere in town in under 15 min.
Airport Area, just south of W. MLK, between Air Cargo Rd.
4210 N COOLIDGE - INCOME/ INVESTMENT DUPLEXES
4210 N Coolidge Ave, Tampa, FL 33614
EXECUTIVE SUMMARY
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
SECTION 1 • PROPERTY INFORMATION
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PROPERTY OVERVIEW
Brand new Investment Duplex near HCC & Stadium.
Two sets of duplexes (4 units) can be sold together or separate.
Two Brand New Rental Duplex's to be completed October 2017.Each unit is $425,000, with 1,500 sf, 3 bedroom, 2 bath. Customcabinetry, granite counter tops, 9 foot ceilings throughout,specialty flooring and lighting. Enclosed garage with spaciousfenced yard.
Near HCC, St. Joseph's Hospital, Raymond James Stadium,Airport, International Mall. Four miles NW of downtown.Centrally located- get anywhere in town in under 15 min.
Airport Area, just south of W. MLK, between Air Cargo Rd.
LOCATION OVERVIEW
Conveniently Located Between Air Cargo Rd. and W. Ohio Rd.
4210 N COOLIDGE - INCOME/ INVESTMENT DUPLEXES
4210 N Coolidge Ave, Tampa, FL 33614
PROPERTY DESCRIPTION
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
SECTION 1 • PROPERTY INFORMATION
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SALE HIGHLIGHTS• New Construction Duplex - To Be Completed
February, 2018
• Excellent investment/ Income Producing
Property
• 3 Bedrooms / 2 full baths / 9 foot ceilings /
Garage / Fenced Yard
• Stainless Steel Appliances - Included NEW
Washer/ Dryer
• Custom Cabinetry with Granite Counter tops
• Block Construction and Stucco with high
quality finishes
• Spacious units, 3,000 sf/$425,000 each unit
4210 N COOLIDGE - INCOME/ INVESTMENT DUPLEXES
4210 N Coolidge Ave, Tampa, FL 33614
COMPLETE HIGHLIGHTS
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
SECTION 1 • PROPERTY INFORMATION
7
4210 N COOLIDGE - INCOME/ INVESTMENT DUPLEXES
4210 N Coolidge Ave, Tampa, FL 33614
LOCATION MAPS
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
SECTION 1 • PROPERTY INFORMATION
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4210 N Coolidge - Income/Investment Duplexes
4210 N COOLIDGE - INCOME/ INVESTMENT DUPLEXES
4210 N Coolidge Ave, Tampa, FL 33614
AERIAL MAP
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
SECTION 1 • PROPERTY INFORMATION
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1 MILE 5 MILES 10 MILES
Total population 1,303 244,371 670,637
Median age 32.2 36.2 35.8
Median age (male) 32.2 34.8 34.5
Median age (female) 29.7 37.7 37.0
1 MILE 5 MILES 10 MILES
Total households 433 100,798 268,982
Total persons per HH 3.0 2.4 2.5
Average HH income $34,984 $64,194 $63,377
Average house value $156,362 $278,151 $275,256
* Demographic data derived from 2010 US Census
4210 N COOLIDGE - INCOME/ INVESTMENT DUPLEXES
4210 N Coolidge Ave, Tampa, FL 33614
DEMOGRAPHICS REPORT
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
SECTION 1 • PROPERTY INFORMATION
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POPULATION 1 MILE 5 MILES 10 MILES
Total population 1,303 244,371 670,637
Median age 32.2 36.2 35.8
Median age (male) 32.2 34.8 34.5
Median age (Female) 29.7 37.7 37.0
HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES
Total households 433 100,798 268,982
# of persons per HH 3.0 2.4 2.5
Average HH income $34,984 $64,194 $63,377
Average house value $156,362 $278,151 $275,256
* Demographic data derived from 2010 US Census
4210 N COOLIDGE - INCOME/ INVESTMENT DUPLEXES
4210 N Coolidge Ave, Tampa, FL 33614
DEMOGRAPHICS MAP
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
SECTION 1 • PROPERTY INFORMATION
11
INVESTMENT OVERVIEW
Price $425,000
Price per Unit $212,500
GRM -
CAP Rate 9.1%
Cash-on-Cash Return (yr 1) - %
Total Return (yr 1) -
Debt Coverage Ratio -
OPERATING DATA
Gross Scheduled Income $45,000
Other Income -
Total Scheduled Income -
Vacancy Cost -
Gross Income -
Operating Expenses 6200
Net Operating Income $38,800
Pre-Tax Cash Flow -
FINANCING DATA
Down Payment -
Loan Amount -
Debt Service -
Debt Service Monthly -
Principal Reduction (yr 1) -
4210 N COOLIDGE - INCOME/ INVESTMENT DUPLEXES
4210 N Coolidge Ave, Tampa, FL 33614
FINANCIAL SUMMARY
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
SECTION 1 • PROPERTY INFORMATION
12
INCOME SUMMARY
Gross Income -
EXPENSE SUMMARY
Gross Expenses -
Net Operating Income $38,800
4210 N COOLIDGE - INCOME/ INVESTMENT DUPLEXES
4210 N Coolidge Ave, Tampa, FL 33614
INCOME & EXPENSES
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
SECTION 1 • PROPERTY INFORMATION
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UNITNUMBER
UNITBED
UNITBATH
UNITSIZE(SF)
CURRENTRENT (PER
SF)MARKET
RENT STATUS LENGTH
MARKETRENT/
SFSECURITYDEPOSIT
3 2 1,500 $1,875 $1.25 $1,500
3 2 1,500 $1,875 $1.25 $1,500
Totals/Averages
3,000 $0.00 $3,750 $1.25 $3,000
Actual Gross Potential Rent* $0
Projected Gross Potential Rent** $45,000
*Actual Gross Potential Rent is based on current rents.**Projected Gross Potential Rent is based on market rents.
4210 N COOLIDGE - INCOME/ INVESTMENT DUPLEXES
4210 N Coolidge Ave, Tampa, FL 33614
RENT ROLL
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
SECTION 1 • PROPERTY INFORMATION
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UNIT TYPE COUNT % TOTAL SIZE (SF) RENT/SF MARKET RENT MARKET RENT/SF
3/2 2 100.0 1,500 $1,875 $1.25
Totals/Averages 2 100% 3,000 $0.00 $3,750 $1.25
4210 N COOLIDGE - INCOME/ INVESTMENT DUPLEXES
4210 N Coolidge Ave, Tampa, FL 33614
UNIT MIX SUMMARY
SALE COMPARABLES
ADVISOR BIOS
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
SECTION 3 • ADVISOR BIOS
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115 W Bearss AveTampa, FL 33613T 813.882.0884C [email protected]
PROFESSIONAL BACKGROUND
Derek Seckinger, Sales associate, is a Sales and Marketing Professional with 25years of experience in sales, as a former business owner, V.P., Sales Trainer,and in related sales and marketing executive titles. Derek is a consummateprofessional and people person, who is drawn to work that help both peopleand companies grow. In his diligent work ethic, Derek is a firm believer in beingproactive and in making things happen rather than waiting for them to happen.Feeling blessed in life, Derek always has a positive outlook. He is a serialentrepreneur and believes in the American dream, that if you work hardenough, you can accomplish anything.
Experience in the following:Contract negotiations and due diligenceInvestment & Financial AnalysisWarehouse & Industrial Sales & LeasingRetail Sales & LeasingOffice Sales & Leasing1031 ExchangesLand & Commercial DevelopmentProperty ValuationLand Sales & Development
EDUCATION
Tampa native since 1981, Derek attended several major universities around thecountry before completing a double major in International BusinessManagement and Business Finance from University of Phoenix.
DEREK M. SECKINGER
Commercial / Industrial Property Sales Associate
4210 N COOLIDGE - INCOME/ INVESTMENT DUPLEXES
4210 N Coolidge Ave, Tampa, FL 33614
ADVISOR BIO & CONTACT 1
Grimaldi Commercial Realty Corp • 115 W Bearss Ave • Tampa, FL 33613 • 813.882.0884grimaldicommercialrealty.com
SECTION 3 • ADVISOR BIOS
18
115 W Bearss AveTampa, FL 33613T 813.882.0884C [email protected] #BK3076744
PROFESSIONAL BACKGROUND
Kari Grimaldi is a Managing Broker/President of Grimaldi Commercial Realty Corp. andcommercial real estate expert. Kari has quickly climbed the ranks of who’s who inTampa Bay Area Commercial Real Estate to become a Top Producer. Learning & joiningthe family business at an early age, Kari understands the importance of networkingand building relationships, and has accumulated 20+ years of experience and in-depthknowledge to execute and navigate commercial real estate transactions for Sellers,Buyers, and Landlords/Tenants from inception to closing. Kari has an extensive resumewith some of the highlights listed below:
Areas of Expertise:Office and Build to Suit Sales & LeasingMedical Office Sales & LeasingResale & Leasing of Office ParksRetail Sales & LeasingIndustrial Sales & LeasingMulti family InvestmentsSingle NNN National InvestmentsLand & Commercial DevelopmentForeign Investors & Investment SpecialistSeller Finance and Creative Financing1031 & Reverse ExchangesShort Sales & Distressed/Bank-owned assets
As a commercial real estate owner and investor herself, she knows first hand how toguide others through the process, and negotiate and close transactions successfully.Kari has a vast portfolio of closed transactions in all sectors of the commercial market,and is a multi-million dollar sales producer.
EDUCATION
A Florida native, Kari earned her Bachelors at University of Florida in Management andPsychology, and a Masters at University of South Florida. A consummate professional,Kari is continually educating herself on the latest economic and market trends withcontinuing education, seminars and networking.
MEMBERSHIPS & AFFILIATIONS
Member of NAR, FAR, and FGCAR- Association of RealtorsREIC Member- Real Estate Investment CouncilCCIM Candidate- Certified Commercial Investment MemberICSC Member- International Council of Shopping Centers
KARI L. GRIMALDI/ BROKER
President/ Broker
4210 N COOLIDGE - INCOME/ INVESTMENT DUPLEXES
4210 N Coolidge Ave, Tampa, FL 33614
ADVISOR BIO & CONTACT 2