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Generic photo to protect the privacy of residents
BRIGHT, FULLY UPDATED
HOUSING WITH SUPPORT FACILITY
Newer roof; newer commercial kitchen; newer flooring; renovated bathrooms;
a pleasure to show. Walking distance to downtown.
| PROFORMA |
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Based on normalized
2019 financial statement |
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| REVENUE |
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$336,696 |
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| EXPENSES |
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| Advertising & Promotion |
$500 |
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| Bad Debts |
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$1,000 |
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| Bingos, birthdays and entertainment |
$670 |
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| Food and Supplies |
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$53,226 |
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| Insurance |
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$8,058 |
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| Utilities |
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$14,331 |
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| Interest and Bank Charges |
$1,500 |
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| Miscellaneous |
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$1,991 |
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| Office Espenses |
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$1,092 |
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| Professional Fees |
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$2,147 |
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| Property and Business Taxes |
$5,113 |
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| Repairs and maintenance - Building |
$5,000 |
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| Repairs and Maintenance - Equipment |
$2,000 |
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| Salaries and Benefits |
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$130,930 |
* |
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| Telecomminications |
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$2,000 |
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| Training |
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$441 |
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| Travel |
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$2,000 |
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| TOTAL EXPENSES |
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$231,499 |
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| NET OPERATING INCOME |
$105,197 |
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| *$14.00/hr x 24 hours x 365 days = $122,640 + benefits = $130,930 --> 6.76% |
| Based on information provided by the Seller. |
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| Buyer should verify all information independently. |
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| CAP RATE = |
$105,197
$990,000
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10.62% |
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