Albany Towers
235 W Roosevelt Avenue, Albany, GA
25.65% return
SP:
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Property Description

Commercial space with 74,480 square feet!! 

Huge upside potential! Full service leases. Suites available in a wide range of sizes and configurations. Flexible for expansion opportunities, can be easily modified to meet diverse commercial and office uses. Management, maintenance, leasing, and security on site. Ample parking. Located in HUB Zone and Opportunity Zones. Potential to generate a 25%+ RETURN!!! 

Financing available!!

Property Information

  • Listing statusActive
  • Property typeCommercial
  • Total bedrooms0
  • Total bathrooms0
  • Building size(unknown)
  • Lot size2.8 acres
  • Year built1975
  • CountyDougherty County
  • Subdivision
  • ConstructionCBS
  • RoofFlat
  • Water sourceCity water
  • Water disposalSewer
  • HeatingCentral
  • CoolingCentral air

Property Financial Summary

  • Sale price $1,450,000
  • Estimated rehab 1 $0
  • Total investment $1,450,000
  • Type Actual
  • Gross income (annually) $953,760
  • Operating expenses (annually) $581,897
  • Net income (annually) $371,863
  • Gross return 65.78%
  • Gross income (monthly) $79,480
  • Operating expenses (monthly) $48,491
  • Net income (monthly) $30,989
  • Net return 25.65%

Property Income & Expenses

  • Income
  • Proforma Rental Income $74,480/month $893,760/year
  • Total $74,480/month $893,760/year
  • Expenses
  • Property Taxes $1,961/month $23,537/year
  • Utilities $11,667/month $140,000/year
  • Insurance (estimated) $2,500/month $30,000/year
  • Lawn care $250/month $3,000/year
  • Housekeeping $2,917/month $35,000/year
  • Maintenance reserve $8,333/month $100,000/year
  • Vacancy Loss $12,413/month $148,960/year
  • Receptionist $3,750/month $45,000/year
  • Security $3,000/month $36,000/year
  • Internet $1,700/month $20,400/year
  • Total $48,491/month $581,897/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.

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