Former church sanctuary building being converted to office use. We anticipate completing renovation by July - 2019. See attached proposed floor plans.
The interior partitions will be sound insulated metal studs covered with painted drywall. The doors will be solid core clear finished birch hung in metal frames with chrome finished lever lock sets. The ceilings will be suspended acoustical with LED lighting. The floor covering will will be vinyl planks and commercial carpet squares. The HVAC system will be high efficiency heat pumps. The church steeple will be removed and a new roof will be metal panels. Once completed all major systems will be compliant with current building codes.
The parking lot has 60 spaces and those spaces will be shared by the tenants of both buildings. If need be, the Landlord would consider sectioning them off.
The lease will be NNN with known and anticipated expenses incorporated and collected as a part of the monthly rent. We are seeking a 5+ year tenant and will not consider less than a 3 year lease term.
Insurance: The present policy is for unoccupied buildings and as such the premium is not representative of that of a policy covering occupied buildings. That pass through expense is yet to be determined. Tenants will be required to purchase and maintain tenant insurance with liability coverage of not less than $1,000,000 and, if tenants use is such that higher limits are indicated then that limit would need to be purchased. The Landlord will be named as an additional insured.
Property taxes: The property has been exempt from property taxes for several decades and as such we can only guess at what the 2019 real property tax billing might total. Our present guess is around $12,000. Whatever the actual amount ends up being it would be allocated as follows: 50.33% to the A building and 49.67% to the B building.
Water and sewer utilities: Those utilities are furnished by Goose Creek Water and Berkeley County Water and Sanitation respectively. The fees are based on the reading of a single water meter and as such the combined expense of those utilities would need to be allocated between the A & B buildings. The allocation would be 50.33% to the A building tenant and 49.67% to the B building tenant if both buildings are occupied and if only one building is occupied the tenant of the occupied building would be responsible for the entire combined water and sewer utilities expense. Tenant responsible for the electric utility expense.
Tenants will responsible for their waste hauling expenses which we presently believe would be a prorated share of $40.00 per month.
The present monthly landscape maintenance expense is $250.00 and it too would be prorated.
