The Gateway Building

The_Gateway_Building1
The_Gateway_Building2 The_Gateway_Building3

Purchase Date: November 2007 Price: $3,800,000
Cash on Cash Return: 6.00% Project 5 Year IRR: 20.00% +
Current Market Value: $4,500,000 (Appraised)
Note: CEP purchased the building from the owner/operator as a sale lease back. The lease was backed with a secure Line of Credit to offset the tenant risk of the young motorsports dealership. The strategy is to convert the building to a multitenant configuration and capture the upside of moving to market rents in this strong location with great exposure for medical office or retail users. Investors are posed to enjoy substantial cash on cash return once the property is retenanted and significant price appreciation over the hold period.