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Platinum Place office building

Property price: $1,875,000 + Closing costs
*2% Commission

Deal offer : 8% preferred after that even split with pacific for a total of 12.1%

Platinum Place Office Building is multi-tenant office building located at 1585 Old Norcross Road, Lawrenceville, Georgia. The property is currently 85% leased with 11 tenants.
OUTSTANDING LOCATION
Convenient access to I-85 and GA-316 with abundant retail, dining, and hospitality amenities in the area. Platinum Place is two miles west of the Gwinnett Medical Center campus and 4 miles from downtown Lawrenceville which also serves as the seat of the Gwinnett County government. Lawrenceville is known for its dense residential population with strong demographics surrounding the property. This combination of office, retail, medical, and government make Platinum Place’s location a vibrant address ideal for commerce.
STABLE CASH FLOW AND STRONG YIELD
Platinum Place is 85% leased and offered to qualified investors at a cap rate north of 9%. Income stability is achieved through a healthy mix of tenants in size and attractive lease terms. Platinum Place, although constructed in 2002, has a long history of healthy stable occupancy.
  • Status: For sale
  • Year Built: 2002
  • Building size: 24,070sqft
  • Lot size: 1.94 Acres
  • Tenants: 11
  • Financial details

  • Monthly Rent: $22,238.198
  • Annual Gross Rent: $266,858.38
  • Real estate taxes: $17,490.54
  • Insurance: $4,451
  • Utilities: $25,624
  • Repairs & maintanence: $12,000
  • Lot sweeping: $1,500
  • Pest control: $300
  • Landscaping: $3,960
  • Video monitoring: N/A
  • Fire protection: $1,517
  • Cleaning services: N/A
  • Waste removal: $3,288.17
  • Management fee: $8,005.75
  • Administrative: N/A
  • Reserves/Replacement: $8,500
  • Vacancy: $13,342.919
  • Total Annual Expenses: $99,979.37
  • Net Yearly Income: $166,879.01
  • Net Annual Return: 8.9%
  • Financial Expenses

  • 70% Loan To Property Price: $1,312,500
  • Equity: $562,500
  • Expected Interest: 5% fixed for 25 years
  • Monthly Return: $7,672.74
  • Annual Return: $92,072.88
  • Annual Interest Return: $62,095.93
  • Annual Principal Return: $29,976.94
  • Net Income After Financing Expenses: $74,806.13
  • Net Income After Financing Expense and Principal Return: $104,783.07
  • Total Annual Return: 18.62%
Pacific Holdings
Real Estate Investments
(800) 403-3407
PACIFIC HOLDINGS | LOS ANGELES
6300 Wilshire Blvd #970
Los Angeles, CA 90048
invest@pacificholdingsgroup.com
Direct: (800) 403-3407
Fax-877-282-8028