|
PROPERTY NAME
|
GOVERNORS CLUB PROPERTY
|
|
PRICE
|
$820,000 * $111.59 PER SQUARE FOOT
|
|
ADDRESS
|
144 KINGS HWY, DOVER, KENT COUNTY,
DELAWARE 19904
|
|
PROPERTY TYPE
|
OFFICE PROPERTY
|
|
ALTERNATIVE USES
|
RETAIL, RESTAURANT
|
|
LAND AREA
|
32,234 +/- SF * .74 ACRE * 22.8% COVERAGE
|
|
BUILDING AREA
|
7,348 +/- SQ FT * THREE-STORY BLDG
|
|
USABLE AREA
|
5,685 +/- SQ FT * 77.4%
|
|
COMMON AREA
|
1,668 +/- SQ FT * 22.6%
|
|
CURRENT OCCUPANCY
|
5,882 +/- SQ FT * 80%
|
|
CURRENT VACANCY
|
1,466 +/- SQ FT * 20%
|
|
TOTAL GROSS RENT
|
$116,000 BASE RENTAL
|
|
EXPENSE REIMBURSEMENTS
|
$51,000 AT FULL OCCUPANCY
|
|
TOTAL EXPENSES
|
$64,000 AT FULL OCCUPANCY
|
|
NET OPERATING INCOME
|
$42,200 EXISTING
$64,000 AT FULL OCCUPANCY
|
|
CAP RATE
|
4.8 PERCENT EXISTING
9.23 PERCENT AT FULL OCCUPANCY
|
|
YEAR #1 EQUITY DIVIDEND RATE
|
11.7 PERCENT AFTER TAX AT FULL OCCUPANCY
|
|
PARKING
|
ON SITE AT REAR
|
|
UTILITIES
|
SEWER, WATER, CENTRAL AIR, HOT AIR HEAT
|
|
BUILDING FEATURES
|
ELEVATOR, FULL BASEMENT, SECURITY ALARMS
|
|
TENANT IMPROVEMENTS
|
NONE INCLUDED * TENANT’S EXPENSE
|
|
ZONING
|
RGO, GROUP RESIDENTIAL & OFFICE ZONE,
CITY OF DOVER
|
|
TAX MAP
|
ED05 - 077.05 - 04 – 40.00-0000
|
|
SCHOOL DISTRICT
|
CAPITAL
|
|
FLOOD MAP
|
10001C0167H, ZONE X, MAY 3, 2003
|
|
CENSUS TRACT
|
413
|
|
CITY TAX ASSESSMENT
|
$983,800 * $134. +/- PER SQUARE FOOT
|
|
CITY TAX RATE
|
$0.405 / $100
|
|
CITY PROPERTY TAX
|
$4,000 * $0.54 PER SQUARE FOOT
|
|
COUNTY TAX ASSESSMENT
|
$143,800 * $20. +/- PER SQUARE FOOT
|
|
COUNTY TAX RATE
|
$2.2530 / $100
|
|
COUNTY PROPERTY TAX
|
$3,250 * $0.44 PER SQUARE FOOT
|
