• Address: 244 Payne Avenue, North Tonawanda, NY 14120 (map)
• Date Posted: 10/02/09

INCOME/INVESTMENT PROPERTY FOR SALE



Property Acquisition and Renovation, Inc. (PARI) has negotiated an advantageous deal with the mortgage holder to offer a buyer/investment partner an excellent upside potential with low downside risk.



Two tenants waiting to rent space (store tenant agrees to buy building based on retail performance.)



Type of Property: Commercial store front (2,000 sq. ft.) with two apartments upstairs.*



*Comparable retail space is renting for $8/sq. ft ($1330/mo.)

** The location is in a naturally-high traffic area beside city hall.

Address: 244 Payne Avenue

City of North Tonawanda

New York 14120



Valuation: On fully rented basis, the value of the property is $168,000 - $226,000 with a cap rate of 10% and $210,000 - $282,500 with a cap rate of 8%. These valuations compare well with sales of similar commercial income properties.



Purchase Option 1: Outright sale - $120,000 (buyers will need to spend about $20,000 on renovation



Investment Option 2: Contingent 3-yr Sales Agreement with initial investment of $60,000 (12 ownership units at $5,000/unit, with minimum guaranteed buyback from mortgage holder at $6,700/share (~10% annually compounded rate of return.)

Please contact us by replying to this ad with your name and day/evening phone number and we will contact you on the next business day. We will be holding information session for this and other real estate opportunities in Western New York on a regular basis once we have sufficient number of registrants.


PROPERTY ACQUISITION AND RENOVATION, INC

3199 Buffalo Avenue, Suite 307

Niagara Falls, New York 14303

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