2192 East View Parkway, Conyers, GA, 30012
This property is a single-storey 45,670 square foot dual-tenant office-flexible industrial property, located on 3.96 acres in Conyers (east Atlanta), Georgia.
The purchase price is $1,900,000 – well under the appraised value of $2,350,000 and the inital asking price of $2,600,000.
The property has a capitalisation rate at purchase of 8.4%.
Property / Financial Information:
Disclaimer: Information provided about forecast annual net cash flow and cash on cash returns are derived from unaudited financial projections. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Responsible Entity. The Responsible Entity cannot and does not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements.
Appraisal date and appraiser
15 August 2015
Schlemmer Appriasal Company
|Acquisition date||1 October 2015|
|Contract purchase price||$1,900,000|
|Original listed price||$2,600,000|
|Discount to listing price||$700,000 (26.9%)|
|Independently appraised price||$2,350,000|
|Estimated insurance replacement cost||$TBA|
|Occupancy at purchase date||100%|
|Gross Building Area||45,670 sq ft (4,242 sq mtrs)|
|Land size||172,497 sq ft (16,025 sq mtrs)|
|At purchase estimated net operating income||$160,025|
|At purchase estimated cap rate||8.4%|
|At purchase estimated cash on cash return||8.4%|
Currency: All numbers are shown in USD. Returns shown have not been translated into Australian dollars as the exchange rate varies. A AUD:USD exchange rate below AUD1:USD1 will increase the percentage return. A AUD:USD exchange rate in excess of AUD1:USD1 will decrease the return.
Management costs: Returns shown above include US management costs, but exclude the management fee charged by the Responsible Entity (1.98% per annum of Gross Assets).
More information on key terms:
|Estimated insurance replacement cost:||The estimated cost to rebuild the property in the event of a total loss. The number is calculated via discussions with a independent insurance broker and considers the age and construction type / quality of the building.|
|Net operating income:||Operating income – operating expenses|
|Capitalization rate:||(Net operating income ÷ Purchase price) × 100|
|Cash on Cash return:||(Annual cash back ÷ Cash down) × 100|
|At purchase capitalization rate:||Using unaudited management forecasts, the estimated capitalization rate at purchase date.|
|At purchase cash on cash return:||Using unaudited management forecasts, the estimated cash on cash return at purchase date.|