Passive investment opportunity with huge tax benefits. Purchaser has the ability to write off 60% in year 1 with accelerated depreciation .
The property is occupied by Strickland Brothers who is rapidly expanding with the goal to reach 200 by 2024. Strategic investment by Princeton equity during 2021 is propelling expansion efforts. Approx 15 years remain on the lease with 10% escalations every 5 years. The tenant has 3 (5yr) options they can exercise after the initial term. Current annual in place NOI $154,760 , passive income collected every month providing the purchaser with a 6% yield (CAP). No landlord responsibilities. Absolute NNN deal .
Flyer = https://elkpenn.com/properties/Burleigh/Burleigh%20Blvd.pdf
610 E Burleigh BOULEVARD, Tavares, FL, 32778
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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