Joslen Centre

FOR SALE > PROFESSIONAL OFFICE SPACE
Joslen Centre
11802 NE 65TH STREET, VANCOUVER, WA 98662
PRICE REDUCED!!
SALE PRICE: $999,000 ($135/SF)
7,369 Total Square Feet
Great Owner/User and Investment Opportunity!
>> One-story office/medical building on .67 acres
Washington, United States, North America
>> Priced well below replacement cost
>> 4,405 square feet available to occupy or lease
>> Constructed in 2001
>> 33 on-site parking stalls (4.49 per 1,000 SF)
>> Suites built out with mix of private offices, reception and
S
lunchroom
IT
E
>> Blocks to all essential services including retail, restaurants,
medical and health club
>> High speed data/telecommunications available
SEE INSIDE FOR PLAN
DOUG BARTOCCI, CCIM
360-852-9621
Licensed WA & OR Real Estate Broker
[email protected]
0 mi
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COLLIERS INTERNATIONAL
700 Washington Street, Suite 608
Vancouver, WA 98660
www.colliers.com
BUILDING SUITES
Suite #
100
101
102
103
Square Footage
2,964 SF LEASED
2,200 SF AVAILABLE
1,076 SF AVAILABLE
1,129 SF AVAILABLE
BUILDING SPECIFICATIONS
Property ID
Building SF
Lot Size
County
Zoning
Taxes
Parking
Signage
158442010
Approximately 7,369 SF
28, 393 SF (0.65 acres)
Clark
Community Commercial (C-3)
2016 - $13,766.00
33 Stalls
Building and monument signage available
IL
AVA
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ABL
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S
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RENT VS. OWN ANALYSIS
Assumptions:
Available Space to Lease:
4,405 SF Leased Space Rental Cost:
$4,772Mo
SF Annual Lease Rate (Base Rent)
$13.00 Return on alternative use of downpayment
2.00%
Lease income (Suite 100 2,964SF)
$4,199.00 /Mo Joslen Centre
Purchase Price/SF:
Commercial Loan Interest Rate:
Down Payment Requirement
Loan Amortization
Loan Amount
RENT
OWN
Lease Assumptions
Purchase Assumptions
7,369 SF
$135.57/SF 5.00%/annum
10%
25 years
$1,031,742
Purchase Price
Rent per square foot per month
$1.08
Rent per month (total)
$4,772
Start-up Costs
$999,000
Tenant Improvement Costs
$20.00/SF
Total Purchase Cost
$147,380
$1,146,380
Start-up Costs
Prepaid rent and security deposit
$9,544
Total Start-up Costs
$9,544
Monthly Costs
Per SF
Amount
Rent Payment
$1.08
$4,772
Other
$0.00
$0
NNN operating costs
$0.35
$1,542
Reserves and other costs
$0.00
$0
Total Monthly Costs
$1.43
$6,314
Monthly Ownership Benefits
Cash down payment
$114,638
Loan fees and costs (1% Fee & 1% Misc)
$20,635
Total Start-up Costs
$135,273
Monthly Costs
Per SF
Amount
$1.37
$6,031
Rent from other tenants (Suite 100, 2,964 SF)
-$1.08
($4,758)
NNN operating costs
$0.35
$2,579
Reserves and other costs
$0.05
$368
Total Monthly Costs
$0.69
$4,221
Mortgage payment:
Monthly Ownership Benefits
Monthly appreciation
$0
Monthly appreciation: at 1%/Annum
$955
Monthly depreciation: at 40% tax bracket
$0
Monthly depreciation: at 40% tax bracket
$735
Monthly principal payment
$0
Monthly principal paydown (10 yr avg)
$2,242
Total Ownership Benefits
$0
Total Ownership Benefits
$3,932
TOTAL EFFECTIVE MONTHLY COSTS
$6,314
TOTAL EFFECTIVE MONTHLY COSTS
$289
Ownership Analysis Summary
Cash required for purchase
Annual return for alternative use of cash
$135,273
2.00%
$2,705
Annual Lease Cost
$75,766
Annual Ownership Cost
$50,653
Cost Difference-Annual Cash outflow
$25,113
Annual Ownership Benefits
$47,186
Annual return for alternative use of cash
($2,705)
Net Annual Wealth Creation
$69,594
10-year Annual Wealth Creation
$695,939
The information contained herein has been obtained from sources
we deem reliable. We do not, however, guarantee its accuracy.
All information should be verified prior to purchase or lease.
COLLIERS INTERNATIONAL
700 Washington Street, Suite 608
Vancouver, WA 98660
www.colliers.com
FOR SALE > PROFESSIONAL OFFICE SPACE
Joslen Centre
NE 117th Avenue
11802 NE 65TH STREET, VANCOUVER, WA 98662
TE
SI
NE 65th Street
lain
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ourt
NE F
Blvd
500
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and/or its licensor(s). ©2016. All rights reserved. 1/1/16