FOR SALE - LoopNet · John Brown [email protected] (541) 345-4860 FOR SALE. Stephanie Seubert...

Highly Visible Retail Strip

439-455 West 11th AvenueEugene, OR 97401

C O N TA C T

Stephanie [email protected] [email protected]

(541) 345-4860

FOR SALE

Stephanie [email protected]

John [email protected]

(541) 345-4860

The information in this package was gathered from sources deemed reliable, however Evans Elder Brown & Seubert makes no representation or warranty of the accuracy of the information. Any buyer or tenant considering a purchase or lease of this property should confirm any and all information relied upon in making the decision to purchase or lease prior to finalizing the transaction and bears the risk of all inaccuracies.

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439-455 West 11th Avenue

Property Overviewn Approximately 11,600 square feet divided into 4

separate units which are 100% occupied

n Building has been well maintained

n On-site Parking for 19 cars as well as additional on-street parking

n Located on West 11th Avenue, a high traffic arterial street in Eugene

n $1,700,000



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Overview

Site/ImprovementThe site consists of approximately .41 acres (17,860 sf) of land which includes a building totaling 11,600 square feet. The West half of the building was constructed in 1964 followed by the East half in 1971. The single story building is concrete block construction on a concrete foundation and consists of a total of approximately 11,600 sf plus loft space that is not included in the total square footage. There are currently four separate Tenants that occupy the building.

LocationThis property is located on West 11th Avenue between Washington and Lawrence Streets just blocks from the heart of Downtown Eugene.

RoofThe roof is a wood frame, built-up gabled structure. A new roof was installed on the building in December of 2017.

HVACThe HVAC system consists of 8 roof-mounted gas Trane units. There is also an additional exhaust fan serving the hair salon.

Price$1,700,000

TaxesThe property consists of one Map & Tax Lot: 17-03-31-24-06201 (.44 acres/approximately 17,860 sf). The 2019 property taxes are $15,256.77.

ZoningThe property is zoned C-2 (Community Commercial)



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Floor Plan



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Tax Map

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FOR ASSESSMENT ANDTAXATION ONLY S.E.1/4 N.W.1/4 SEC. 31 T.17S. R.3W. W.M.

Lane County1" = 100'

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LCATJCG - 2015-07-30 10:49

REVISIONS06/23/2011 - LCAT167 - CONVERT MAP TO GIS07/30/2015 - LCAT174 - CORRECT STREET NAME



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Pro Forma

Purchase Price $1,699,047Square Feet 11,600Cap Rate 6.00% Purchase Price $1,699,047Price per Square Foot $146.47 Less: Down Payment 25% $424,762

Total Loan Amount $1,274,285

Income Interest Rate 5%Per SF Loan Term (Years) 25

Scheduled Rental Income $12.76 $148,020Plus: CAM Reimbursements $0.00 Monthly Payment $7,449.34Tax Reimbursements $0.00

Equals: Scheduled Gross Income $12.76 $148,020Less: Vacancy & Credit Loss 5% $7,401 Net Operating Income $101,943Less: Reserves 1% $1,480 Minus: Annual Debt Service $89,392

Pre-Tax Annual Cash Flow $12,551Equals: Effective Gross Income $11.99 $139,139

Debt Service Coverage 1.14Expenses % of EGI Expense Ratio 26.73%

Per SF Cash-on-Cash Return 2.95%Operating Expenses* 9.95% $1.19 $13,842.00 Actual Cap Rate 6.00%Real Property Taxes 10.01% $1.20 $13,930.00 Initial Annual Yield 9.00%Insurance 1.33% $0.16 $1,857.00Management 2.73% $0.33 $3,800.00Utilities 3% $0.32 $3,767.00

Total Operating Expenses: $37,196Equals: Net Operating Income $101,943

FINANCING SUMMARY

INVESTMENT PERFORMANCE SUMMARY

NET OPERATING INCOME SUMMARY



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Aerial

439-455 W 11th Ave

Eugene Public Library

LTD Bus Station



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Real Estate Agency RelationshipsAn “agency” relationship is a voluntary legal relationship in which a real estate licensee (the “agent”) agrees to act on behalf of a buyer or a seller (the “client”) in a real estate transaction. Oregon law provides for three types of agency relationships between real estate agents and their clients:

Seller’s Agent - Represents the seller only;

Buyer’s Agent - Represents the buyer only;

Disclosed Limited Agent - Represents both the buyer and seller, or multiple buyers who want to purchase the same property. This can be done only with the written permission of both clients.

The actual agency relationships between the seller, buyer and their agents in a real estate transaction must beacknowledged at the time an offer to purchase is made. Please read this pamphlet carefully before entering into an agency relationship with a real estate agent.

Duties and Responsibilities of an Agent Who Represents Only the Seller or Only the BuyerUnder a written listing agreement to sell property, an agent represents only the seller unless the seller agrees inwriting to allow the agent to also represent the buyer. An agent who agrees to represent a buyer acts only as thebuyer’s agent unless the buyer agrees in writing to allow the agent to also represent the seller. An agent whorepresents only the seller or only the buyer owes the following affirmative duties to their client, other parties andtheir agents involved in a real estate transaction:

1. To exercise reasonable care and diligence;

2. To deal honestly and in good faith;3. To present all written offers, notices and other communications in a timely manner whether or not the seller’s property is subject to a contract for sale or the buyer is already a party to a contract to purchase;

4. To disclose material facts known by the agent and not apparent or readily ascertainable to a party;

5. To account in a timely manner for money and property received from or on behalf of the client;

6. To be loyal to their client by not taking action that is adverse or detrimental to the client’s interest in a transaction;

7. To disclose in a timely manner to the client any conflict of interest, existing or contemplated;

8. To advise the client to seek expert advice on matters related to the transactions that are beyond the agent’s expertise;

9. To maintain confidential information from or about the client except under subpoena or court order, even after termination of the agency relationship; and

10. When representing a seller, to make a continuous, good faith effort to find a buyer for the property, except that a seller’s agent is not required to seek additional offers to purchase the property while the property is subject to a contract for sale. When representing a buyer, to make a continuous, good faith effort to find property for the buyer, except that a buyer’s agent is not required to seek additional properties for the buyer while the buyer is subject to a contract for purchase or to show properties for which there is no written agreement to pay compensation to the buyer’s agent.


Initial Agency Disclosure (OAR 863-015-215(4))

None of these affirmative duties of an agent may be waived, except #10, which can only be waived by writtenagreement between client and agent.

Under Oregon law, a seller’s agent may show properties owned by another seller to a prospective buyer and may list competing properties for sale without breaching any affirmative duty to the seller. Similarly, a buyer’s agent may show properties in which the buyer is interested to other prospective buyers without breaching any affirmative duty to the buyer.

Unless agreed to in writing, an agent has no duty to investigate matters that are outside the scope of the agent’sexpertise.

Duties and Responsibilities of an Agent Who Represents More than One Client in a TransactionOne agent may represent both the seller and the buyer in the same transaction, or multiple buyers who want topurchase the same property only under a written “Disclosed Limited Agency” agreement, signed by the seller,buyer(s) and their agent.

When different agents associated with the same real estate firm establish agency relationships with differentparties to the same transaction, only the principal broker (the broker who supervises the other agents) will act as a Disclosed Limited Agent for both the buyer and seller. The other agents continue to represent only the party with whom the agent already has an established agency relationship unless all parties agree otherwise in writing. The supervising principal broker and the agents representing either the seller or the buyer have the following duties to their clients:

1. To disclose a conflict of interest in writing to all parties;

2. To take no action that is adverse or detrimental to either party’s interest in the transaction; and

3. To obey the lawful instruction of both parties.

An agent acting under a Disclosed Limited Agency agreement has the same duties to the client as whenrepresenting only a seller or only a buyer, except that the agent may not, without written permission, disclose any of the following:

1. That the seller will accept a lower price or less favorable terms than the listing price or terms;

2. That the buyer will pay a greater price or more favorable terms than the offering price or terms; or

3. In transactions involving one-to-four residential units only, information regarding the real property transaction including, but not limited to, price, terms, financial qualifications or motivation to buy or sell.

No matter whom they represent, an agent must disclose information the agent knows or should know that failureto disclose would constitute fraudulent misrepresentation. Unless agreed to in writing, an agent acting under aDisclosed Limited Agency agreement has no duty to investigate matters that are outside the scope of the agent’sexpertise.

You are encouraged to discuss the above information with the agent delivering this pamphlet to you. If you intend for that agent, or any other Oregon real estate agent, to represent you as a Seller’s Agent, Buyer’s Agent, or Disclosed Limited Agent, you should have a specific discussion with him/her about the nature and scope of the agency relationship. Whether you are a buyer or seller, you cannot make a licensee your agent without their knowledge and consent, and an agent cannot make you their client without your knowledge and consent.

This pamphlet describes agency relationships and the duties and responsibilities of real estate licensees in Oregon. This pamphlet is informational only and neither the pamphlet nor its delivery to you may be construed to be evidence of intent to create an agency relationship.

FOR SALE - LoopNet · John Brown [email protected] (541) 345-4860 FOR SALE. Stephanie Seubert...

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Transcript of FOR SALE - LoopNet · John Brown [email protected] (541) 345-4860 FOR SALE. Stephanie Seubert...