Sinking Spring Multi-Tenant Medical Office Building
By The Numbers:
- Purchase Price: $1,200,000.00
- TIA & Soft Costs: $1,900,000.00
- Total Project Cost: $3,100,000.00
- NOI: $340,756.00
- Unlevered CAP: 10.32%
- Cash on Cash: 22.00% (Based on 20 year AM at 4% – 80/20)
- Appraised Value: $5,300,000.00
- Equity Created: $2,200,000.00 +/-
- Medical Office on 1.87 Acres
- Motus Equities identified a 15,000 SF former eye doctor building located at a high-trafficked lighted interchange.
- During the Due Diligence period, Motus identified Tower Health via its brokerage network as a potential user as negotiates a 12-year lease with Tower and the existing eye doctor.
- Leases were executed prior to
- Motus Investments acquires the asset via a cash investment from its partners.
- D&B Construction begins tenant fit-out immediately following acquisition.
- Motus Investments secured permanent debt via a Refinancing by Citadel Credit Union.
- Keystone Property & Asset Management took over Facilities Management in 2020.