Size: 72,277 s.f.
Location: Fayetteville (Atlanta), GA
Major Tenants: Harbor Freight Tools, Goodwill
Status at Purchase:
Date: June 23, 2016
Purchase Price: $5,950,000 ($82 psf / 8.0% cap rate)
Four-Part Business Plan:
Implement Capital Improvements Plan:
Replace roof, prepare vacant spaces for lease.
Evict delinquent tenant, lease vacant spaces, and stabilize tenancy.
Reduce Operating Expenses:
Actively manage property utilizing SunCap’s platform and key vendor relationships in order to reduce operating expenses.
Improve NOI by 40% over the five year holding period.
Equity Invested: $2,552,000
Forecast Investor Returns:
10+% current cash-on-cash
17+% IRR over five year hold
Investment Multiple: 2.0