9-Unit Residential Condo Portfolio 7.5% CAP RATE

Business Opportunity for Sale
Sale Pending/Contingent
Catylist Listing ID: 30710198
Property Subtypes: Real Estate
Status: Pending/Contingent
Condo? Yes
Building Size (RSF): 12,781 SF
Gross Land Area: 2 Acres
Sale Price: $2,108,865
Name of Establishment: OLDSMAR GALLERIA Town Center
Year Business Established: 2008
Gross Revenue: $158,165 (Annual)
Cash Flow: $0 (Annual)
Sale Terms: Cash to Seller
Last Updated: 7/17/2021

Overview / Comments

A Pinellas County Portfolio of (9-Units 2-Bdrm-2.5-Bath) Residential Condominium offered For Sale at a 7.5% CAP RATE return with absolute triple net deal (NNN). Offered by Healthier Stay Oldsmar LLC. Seller will execute a 2-year lease back agreement with an option to extend beyond 2 years, paying $158,165 in annual rents that guarantees a 7.5% return, plus they pay for all taxes, condo fees, utilities, maintenance, etc. During this lease period, Buyer has No tenant issues, No maintenance issues/costs, No vacancy issues and No collection issues! A true passive real estate investment. The subject properties (Oldsmar Galleria Town Center) consist of Class A tilt wall construction, fire wet sprinkled, elevator & Healthier Stay Oldsmar LLC quality of living. (Building was painted in 2020)

All units have been recently remolded and are in excellent condition. All units have new A/C systems (2019), newer water heaters, newer appliances, and new flooring on first floor. This is what HEALTHER STAY rental pool offers their consumers: conduct annual Mold Inspections with Air Samples. HVAC systems are sealed air-tight with a 2-inch filter slot. They use Merv11 filters infused with carbon. Healthy Stay uses zero VOC paint; Units have Water Filtration. Under Kitchen Sinks. Under Bathroom Sinks. Shower Filters. These units have never been occupied by smokers.

Additional Details

Nearest MSA: Tampa-St. Petersburg-Clearwater
County: Pinellas
Industry Segment: Commercial Real Estate Brokers
Reason for Selling: Seller will reinvest the sale proceeds into acquiring additional units for the Healthy Stay rental pool.
Value of Inventory Included ($): $0
Value of Furniture, Fixtures, and Equipment ($): $0
Real Estate Status: Real Property
Value of Real Estate Included ($): $2,108,865
Real Estate Lease Description: 7.5% CAP RATE return with absolute triple net deal (NNN). Offered by Healthier Stay Oldsmar LLC. Guaranteed 2-Year term.
Part of Planned Development?: Yes
Employee/Labor Description: None
Mgmt/Training Support Description: None
Competition/Market Description: None

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,365 56,685 191,693
Median Age: 35.95 43.19 43.8
Households: 1,194 23,858 82,891


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