     Share This For Sale- The Atrium
Longbow Real Estate Group presents a 131,490 SF Class B, San Antonio Office building with below market rents for an opportunity to increase rents with minimal capital expenses. Click here for Map Link.Purchase Price: $16,500,000Net Operating Income: $1,397,506
Capitalization Rate: 8.46% Co-Broker Fee: .75% Gross Leasable Area: 131,490 SF Lot Size: 6.62 Acres Occupancy: 94% Address: 85 NE Loop 410, San Antonio, TX Parking Ratio: 3/1000
Located in North Central, the hottest submarket in San Antonio. Nearly 20% below market rents. Approximately 25% of the tenant mix is national tenants.
Assumable Loan- The current periodic payment for the assumable loan is $70,992.20. If closing occurs in December, the new balance would be approximately 70% of asking price, or 70% LTV. The amortization schedule is in the document vault which can be accessed through a link in the flyer. The assumable debt expires November 2018. Estimated defeasance costs are over 2M. The buyer would need to assume the loan. We received a recent letter of interest from a CMBS lender which suggests the periodic payment for new debt would be approximately $7847/mo lower than existing debt. The economics of debt have played a part in pricing this asset. Property could be purchased with 10010 San Pedro- click here for the flyer.
Go to www.longbowre.com for more information about the company and current listings.
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