|Owner open to offers|
Shoe repair building
Current condition of property:
The building is a very small one-story, one-room shop of brick construction and no distinguishing characteristics. It was built in the 1940s by an immigrant shoe repairman, Stan Kolawalski. Although Stan died in the 1980s, the building has continued to be used as a shoe repair shop by his son, Jeb.Project potential:
Market value of this property as is: $65,000
Size of the floor: 40x25 ft.
Current income of the ground floor ($15/sq.ft./year)
If the building had a full rehab:
Cost to rehab ($65/sq.ft.)
Potential income of the ground floor ($21/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.