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Creek Bend Office Condo Building 
930 South Bell Blvd
Cedar Park, Texas 78613
County: Williamson
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| Property Use Type: | Investment |
| Type: | Office
Office Building |
| Building Size: | 6,000 SF |
| Building Class: | B |
| Occupancy: | 100.00% |
| Price: | $699,900 |
| Price/SF: | $116.65 |
| Cap Rate: | 8.11% |
| Year Built: | 2006 |
| Date Last Verified: | 12/16/2008 |
| Property ID: | 15730127 |
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Property Description:
JUST REDUCED to only $699,900! Take a good look at 6-Unit Office Condo Building. Six units in building, each about 1,000 sq. ft. Net Operating Income CAP RATE 8.11% based on net operating income and 5,770 sq. ft. per Williamson County CAD.
Fully leased and located in Williamson County in beauitiful Cedar Park, Texas. Built in late 2006 and occupied since 2007.
Medical/Professional space occupied by four tenants - two of the tenants occupy two units each. Tenant leases range from 1-3 years averaging $14.76 sq. ft. per year. Exterior of building is constructed with Stucco, Stone and Hardiplank. Ceramic tile in kitchen, entry and bathroom. 9' ceilings, knock out walls for larger offices, window blinds throughout. Pre-wired for security, phone and cable. All units have a reception, four offices, bathroom and work/file room.
See flyer attached for additional information. Lease copies available upon request. CAP Rate 8.11% based on Williamson County Tax District sq. ft. of 5,770 sq. ft.
Location Description:
Approximately 14 miles north of I-35 and Anderson Lane. North on Anderson Lane East/183 from I-35. Merge onto 183 and proceed north and exit to Avery Ranch Blvd. Turn left and then right onto South Bell Blvd, proceed to 930 S. Bell Blvd.
| Property Types: | Office Building
Medical Office | No. Stories: | 1 |
| Office-Business Park | Commission Split: | 3% |
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| Year: | 2008 |
| Scheduled Gross Income: | $85,140 |
| Effective Gross Income: | $85,140 |
| Operating Expenses: | $28,381 |
| Net Operating Income: | $56,759 |
| Pre-Tax Cash Flow: | $56,759 |
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| Tenancy Type: Multiple |
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| 201 & 202 |
SF Occupied: 2,000
Lease Expires: 12/1/2010
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| 203 |
SF Occupied: 1,000
Lease Expires: 4/1/2009
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| 204 |
SF Occupied: 1,000
Lease Expires: 1/1/2009
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| 205 & 206 |
SF Occupied: 2,000
Lease Expires: 4/1/2009
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| Debt & Equity Information |
| Debt Type: | Proposed |
| Loan Amount: | $559,920 |
| Interest Rate: | 8.50% |
| Amortized Over: | 30 |
| Due In: | 20 |
| Annual Debt Service: | $51,663 |
| Down Payment: | $139,980 |
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| Loan Description: |
| Proposed 80% LTV with 20 year term and 30 year amortization, interest at 8.5%. |
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