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Fairmont, West Virginia 26554

Under-Priced Commercial Property. Appraised at $240,000.00 Local Comps (Rehabbed) $350,000.00+). Have had under " creative Purchase contract since April 2015. Time to close it. Still need $100,000.00 funding Equity Partner. Can convert to 5 Commercial Business rental Units, or simple rehab and flip. Equity Partner will decide. Offering 50/50 split Must Close ASAP. We (New EQ Partner and Me) to try to discount remained of asking price. Down to even $60K from $85K. We have possession and leverage. ( Building was illegally condemned by overzealous City Code) Option to force the Seller to repair and clear order. ( Minor electrical issue....full new electrical service installed and still under repair contract with Local prime Electrical Contracting Company!!!) We have been too busy with other deals.. THIS ONE IS A NO -BRAINER! Let's build a great EQ Partnership on this deal and move on to others. ****Might even get the property for FREE, due to lawsuit against Seller. Either way, It will provide a discount on the sale. First EQ Partner gets the deal.... and If it is Free.. Well, Greater the profit for them and me! Asking $130K from EQ Partner or Buyer Outright! Let's discuss it and see what it best! $130K Buys It Outright. $100K for EQ Partner Includes Purchase & Rehab! $240K After-Repair Value is Low, but Certain! Fully Leased Value is a revenue stream of $4K-$7K per month. Even simple straight-line Landlord Price Valuation at Media Lease revenue Per Month Yield $330K Valuation.

Property Info

Sqft (Living) 10000 sq ft.
Sqft (Lot) 28800 sq ft.
Year Built 1905
Deal Type Wholesale
Property Type Commercial
ARV $240,000
Estimated Rent 400
Cap Rate 10%

Location

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