Wyomissing Multi-Tenant Medical Office Building
By The Numbers:
- Purchase Price: $645,000.00
- Tenant Fit-Out: $258,000.00
- Total Project Cost: $903,000.00
- NOI: $129,720.00
- Unlevered CAP: 14.37%
- Cash on Cash: 58.75% (Based on 20 year AM at 4% – 80/20)
- Appraised Value: $1,700,000.00
- Equity Created: $797,000.00 +/-
- Motus Equities identified a 5,520 SF former MOB used as an asthma center for a private practice.
- During the Due Diligence period, Motus Equities identified Mainline Fertility via its brokerage network as a potential user.
- Motus Equities negotiated a turn-key lease and executed a lease during the Due Diligence period.
- Motus Investments acquired the asset via a cash investment from its partners.
- D&B Construction began tenant fit-out immediately following acquisition.
- Motus Investments secured permanent debt via a refinancing by S&T Bank.
- Keystone Property & Asset Management took over Facilities Management in 2019.