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$4,977,000  Business New Bern

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  • $4,977,000
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  • Business
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  • New Bern
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3500 Dr. Martin Luther King Jr. Blvd
New Bern, North Carolina 28562
DESCRIPTION: 13,813 SF Free-standing building on approximately 1.53 acres.

LOCATION: 3500 Dr. Martin Luther King Jr. Blvd, New Bern, NC 28562

INCOME: $398,214

LEASE: 20 year NNN lease with four 5-year options. Lease commenced March, 2005

PRICE: $4,977,000

FINANCING: $3,946,000. 5.95% on a 10 year term with a 30 year amortization due 3/01/2016. 1% assumption fee. Non-recourse. 79% LTV

DEBT SERVICE: $291,108.

CASH FLOW: $107,106.

CASH-ON-CASH RET.: 10.39%

CAP RATE: 8.00%

LOCAL RETAILERS: JC Penny (mall), Staples, Target, Food Lion, Wal-Mart, Books-a-million, Goody`s, Lowes Home Improvement.
3500 Dr. Martin Luther King Jr. Blvd
New Bern, North Carolina 28562
DESCRIPTION: 13,813 SF Free-standing building on approximately 1.53 acres.

LOCATION: 3500 Dr. Martin Luther King Jr. Blvd, New Bern, NC 28562

INCOME: $398,214

LEASE: 20 year NNN lease with four 5-year options. Lease commenced March, 2005

PRICE: $4...
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