Property details

1031 Tenant in Common, Northeast Region

Property Description

1031 Senior Tenant in Common

• Occupancy 97% as of Sept. 2008

• Management provided my Master Lease

• Single-story assisted-living facility.

• Approximately 17 miles south of buffalo, NY

Amenities include:
beauty/barber shop, ice cream parlor, billiards room, commercial laundry room, multi-purpose room, living rooms, wellness/therapy facilities, full kitchen and dining services, as well as lobby/reception area.

Benefits of TIC ownership:
Faster closings for exchange, pre-arranged non-recourse financing, professional property management, access to higher-grade institutional properties, deeded interest, incremental cash flow, appreciation / depreciation benefits, most importantly TICs are private offerings, not listed or directly impacted by the stock market.

This Senior Living facility benefits from an aging population and an emerging trend known as "reverse migration" where many seniors who have relocated to warmer climates are beginning to return to their places of origin as they advance in age and require more assistance in their daily living.

The total population age 75 and above in the zip code area is projected to increase 1.05% annually until 2012 (Claritas).

Loan on the property has been pre-arranged by the TIC Sponsor and is non-recourse to investors. Minimum investment is inclusive of $137,742 of equity and $323,400 assumed proportional debt. This is equal to 6.6% interest in the property.

Other property related to 1031 Tenant In Common

1031 Tenant In Common Bank Building TIC Commercial Retail TIC
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Tenancy In Common Tenants In Common TIC
TICs

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Highlights

Status:
Sold
Price:
$461,142
PSF:
$10
Cap Rate:
8.00%
Annual Rent:
$558,960
Rent Increases:
None
 

Property Information

Building Size:
47,380 sq.ft.
Property Type:
TIC
Industry Type:
Senior Housing - Assisted Living
Units/Spaces:
120
Year Built:
1986
Land Area:
10.44 acres
Purchase Tenure:
Fee Simple
 

Existing financing information

Original loan amount:
$4,900,000
Interest rate:
6.5%
Amortized over:
30 years
Annual Cash Flow:
$558,960

The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.