LAKE WORTH FLEX PROPERTY SOLD

2200 4th AVENUE NORTH
PART OF LAKE WORTH BUSINESS PARK
LAKE WORTH, PALM BEACH COUNTY, FLORIDA

TWO LT. INDUSTRIAL/FLEX SPACE BUILDINGS
19,500 +/- SF OF LEASABLE SPACE

SELLER: LAKE WORTH CORNERS LLC
BUYER: LAKE WORTH WAREHOUSE, LLC
SELLING PRICE: $1,370,000
$70.26 PSF OF LEASABLE SPACE
SELLER’S  AGENT: CHRISTINA MORRISON PEARCE, P.A.
SOUTHDALE PROPERTIES INC.
BUYERS’ AGENT: CHRISTINA MORRISON PEARCE, P.A.
SOUTHDALE PROPERTIES INC.
LENDER: FIRST SOUTHERN BANK

PROPERTY INFORMATION

BUILDINGS C & D:  2200 4TH AVENUE NORTH
19,500+/- SF – FLEX SPACE
FULLY-LEASED ( 5 TENANTS)
17 OVERHEAD DOORS
19 WALK-IN ENTRIES
ROOFS ON THESE BUILDINGS INSTALLED IN 2004 AND 2005

•    MOST TENANCY IS MONTH-TO-MONTH GIVING BUYER MAXIMUM FLEXIBILITY
•    MOST CURRENT RENTS INCLUDE COMMON AREA EXPENSES
•    RENTS HAVE RECENTLY BEEN ADJUSTED, YET MANY ARE STILL BELOW MARKET
•    ALL UNITS HAVE SEPARATE ELECTRIC METERS AND TENANTS PAY ELECTRIC

CURRENT INCOME AND EXPENSES

INCOME:
ANNUAL RENTS*:
BUILDINGS C & D:                       $155,890 ACTUAL
TOTAL ANNUAL RENT:            $155,890

*Rents stated do not include sales tax which is paid in addition to rent.