1803 N Elm Street, Denton, Texas 76201

$1,150,000
List Price
$1,150,000
Price Change
▼ $105,000 1567459050
MLS#
13978928
Status
ACTIVE
Type
Commercial
Year Built
1975
Construction Status
Preowned
Acres
0.36
County
Denton
Area
DENTON COUNTY (31)
City
Denton
Subdivision
Coolcrest

Property Description

7.5% CAP RATE. Location, Location, Location. 1 block from 380, in the heart of Denton, close to universities and downtown. Be the owner of this cash flowing, leased investment property, ready for your turn key investor. Property has new roof over-lay. New parking over-lay, seal coat and striping. Exterior newly painted. Fully leased. 4 current tenants occupying 6 units with 3 year escalating leases, increasing annually with 2 year tenant options after first three years. Front parking lot scheduled for re-paving. Projected cap rate year 2020 - 8.8%, Projected cap rate years 2021 & 2122 - 10.95%

Additional Information

Unexempt Taxes
$22,562
Features
Inside Storage, Security Lighting
Gross Annual Expenses
34104
Gross Annual Income
120300
Tenant Pays
Alarm Monitor Fee, All Utilities, Renters Insurance
Lot Size
15,768
Acres
0.36
Subdivided
No
Flooring
Carpet, Ceramic Tile, Concrete
Foundation
Slab
Roof
Metal, Overlay
Stories
1
Walls
Brick, Metal, Paneling, Texture
Ceiling Height Type
11 to 14 Feet, 8 to10 Feet
Street Utilities
City Sewer, City Water, Curbs, Individual Gas Meter, Master Gas Meter, Overhead Utilities
Heating Cooling
Central Air-Elec, Central Heat-Gas
Construction Material
Brick, Metal
Parking Garage
Common Lot, Front, Rear, Unassigned Spaces
Road Frontage Desc
Asphalt, City, Curbs/Gutters
Proposed Financing
Cash, Conventional
Building Sq. Ft.
9960
Number of units
6
Leasable Sq Ft
9600
Building Use
Office, Restaurant, Retail
Inclusions
Building Only, Land & Improvements
Possession
Closing/Funding

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Fathom Realty, LLC.