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Mayfair Building

US Veterans Affairs Building / Government Office | Spokane, WA Minimum Investment: $20,000
Mayfair Building
description

Project Assumptions

Based on the investment cost of $6 million for 100% of the investment purchase of the properties from the current owner who is interested in retaining a joint venture partnership in this investment. The total purchase price is $6 million for 100 total shares available for investment. This property as a single tenant lease with the GSA are projected to provide an aggregate annual cash flow yield of approximately 5.28% the first year following the completed renewal of the lease by GSA for the beneficial ownership interests in the Property Partnership. The aggregate annual cash-flow yield is expected to increase on an annual basis from $404,946 in year one to $477,836 in year ten based on contractual lease terms and fixed-rate projection of 2% annual. Projected aggregate first-year net cash from operations of the Properties is estimated to be approximately $316,545. These projections are net total of any debt service, total annual Administrative Fees to the Fiduciary Manage of $8,098 and total projected Administration and Property expenses of $88,401 which includes an annual fee to the Fiduciary Trustee.

Investment Highlights

The GSA- US Department of Veterans Affairs Building (VA) is a single tenant leased office investment located a few blocks from Holy Family Hospital in North Spokane. The VA currently occupies 13,722 RSF, which is 100% of the building.

  • The GSA - VA is a US Government lease - with a new 10 year renewal coming due in May 2019
  • Beautiful Class A building in an A+ location
  • Opportunity for increased cash flow May 2019
  • Minimal landlord responsibilities

Building Description

Beautiful brick building built in 1995; completely remodeled in 2009. Tenant improvement allowance negotiable. Security system & key card entry. State-of-the-art building. Spokane Veterans Administration is the other tenant in the building. One month of free rent for every year on an executed lease.

Mayfair Building

US Veterans Affairs Building / Government Office | Spokane, WA Minimum Investment: $20,000
Opportunity Closing Date: May 2019

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