7101 State Road 52

Price: $475,000

Property Description

Purchase Price: $450K
Rehab Investment: $?K
Total Investment: $?K
Under Contract: $520K in less than ? days
Pre-Closing ROI: ?%
Location: Commercial Warehouse in Hudson

Here we have a Commercial Property that Kevin listed at 475k after two other real estate companies had been trying to sell it for 2 years prior to him. Both Keller Williams and Remax agents had tried to sell this functioning business and building so that the owners could retire. Kevin took about a year marketing it but finally was able to land a buyer from Texas that saw the value in what he was selling. The Texas Investors paid 450k cash for the place and closed inside of 3 weeks allowing Kevin’s other clients to retire at the age of 72. The Texans then sold off all of the inventory of the old Western Auto by basically holding garage sales on the weekends as they were cleaning the building up and doing some upgrades. After all the inventory was sold off, they repaved the parking lot, added a fence around the property, painted the building, put down some new flooring and fixed and added lighting to then re-list with Kevin. Kevin advertised the building For Sale or Lease / Owner Financing Available. 10 months later Kevin landed a buyer out of California and they paid 520k and went with the Owner Financing. The buyers put down a downpayment and closed on a Note and Mortgage prepared by Kevin’s team of contacts and his investors are all set to receive payments at 7% interest for the next 3 years at which point the buyers will refinance with their own bank and pay off the original investors.

Quick Summary

Property ID:
4062
Property Status:
Sold
Property Type:
, , ,
Location:
7101 FL-52, Hudson, FL 34667, USA
Area:
12200.00 ft²
Parking place:
20

Map

Contact Agent

Kevin McCullough
Kevin S. McCullough has over twenty (20) years of experience in mortgages, legal, and all aspects of real estate. Prior to the inception of McCullough & Associates Realty, Inc. he was a mortgage broker for almost a decade and dealt with Conventional Fannie Mae and Freddie Mac lenders, HUD and…
Mobile:727-364-1359
Email:kevin@yourdailyrealestate.com