For Sale

Clifford's Hair Salon buildingCurrent condition of property:

Clifford's is a successful hair salon business that attracts many residents to the downtown. The 2nd floor has a travel agency in a space that has not been updated in many years.

The rents collected on this property are not high, but at least the entire structure is currently rented with multi-year leases. Both businesses are well established. To keep the tenants, some routine maintenance is necessary for the building, costing about $10 per square foot.

Market value of this property as is: $285,000
...Value of land alone: $50,000
Size of each floor: 36x70 ft.
Current income of the ground floor ($11/sq.ft./year)
Current income of the upper floors ($8/sq.ft./year)

Project potential:

If the building had a full rehab:
Cost to rehab ground floor ($80/sq.ft.)
Cost to rehab upper floors ($60/sq.ft.)
Potential income of the ground floor ($18/sq.ft./year)
Potential income of the upper floors ($15/sq.ft./year)

A financial analysis may be completed for this building using a pro-forma app.
Simply fill in boxes to determine its "Return on Investment" potential.