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COMMERCIAL LAND SITUATED IN THE CITY OF ILE PERROT, FRONTING ON THREE
ARTERIES:
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Don Quichotte Blbd. 650.- feet
Des Rosier Street 400. feet
Provence Street 400.- feet
Total Area 251,090.00 Sq. Ft.
PRICE: $ 7.50 per sq. ft.= $ 1,883,175.00
This land is the only land in the city of Ile Perrot, with an existing
zoning for a shopping center.
You could build up to 40% of the land meaning 100,000.00 sq. ft. of leasable
area, you may also go 2 floors.
I will recommend to build up to 65,000.00 sq. ft. in order to give more for
parking ( as more parking you give as better succesfully the shopping may
be.
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PROJECTION FOR DEVELOPMENT Shopping Strip 35,000. sq. ft. + 60 condos
ADRESSE/ADDRESS: Don Quichotte Blvd./Des Rosier street & Provence street, CITY OF ILE PERROT
NO.DE CADASTRE/
CADASTRAL NO.:
GRANDEUR DU TERRAIN/
SIZE OF LOT: 251, 680. Sq. Ft.
AMÉLIORATIONS/
IMPROVEMENTS: Eau/water city trottoirs/sidewalks yes
Tuyaux/drains yes routes/roads yes
Éclairage/lighting yes
VOISINAGE/SURROUNDINGS: Residential
ZONAGE/ZONING: Commercial
Cost of Land (BOOK VALUE) $ 1,850,000.-
CONSTRUCTION COST (SHOPPING STRIP) ( 35,000. sq. ft. X $ 60.) $ 2,100,000.
Rough delivery, finished to be completed by tenant
CONSTRUCTION COST ( 60 apt. units @ $ 80,000. Per unite, tern key) $ 4,800,000.
no elevators, outdoor parking walk-up 3.5 stories
SOFT COSTS $ 400,000.
TOTAL COSTS OF PROJECT $ 9,150,000.
REVENUE: RE-SALE OF 60 CONDOS ( 60 X $ 140,000.) $ 8,400,000.-
( each condo consist of 1,200. sq. ft. GST QST REFUNDS OFFSETS
THE GST QST PAID TOWARDS THE CONSTRUCTION)
TOTAL COSTS OF THE PROJECT AFTER SELLING 60 Condos $ 750,000.
EFECTIVE NET REVENUE FROM RETAILS
($15. per sq. net net net ft. X 35,000.) $ 525,000.
( NEGOTIATION WITH CUCHTARD ARE ONGOING FOR 4,500. sq. ft., we would like
to have you as the bank in place 5,000. sq. ft. @ $ 15. a sq. ft.)
NET OPERATING INCOME: ( N.O.I. ) $ 525,000. ( 70.00 % CAP. RATE )
VALUE OF THE SHOPPING STRIP AT FINISH PHASE $ 5,000,000.
NET PROFIT $ 4,250,000.
We need: 1) Immediately $ 1,500,000. ( 50% for the land & 50% for the construction to begin the development
2) Bridge financing $ 6,000, 000., on progressive disbursement conditional to sales nor to leases.
3) The take over for the condo shall be with all the approved buyers ( @ 85% of selling price C.M.H.C.)
4) The take over for the shopping strip at 50% of value at finish phase approx $ 2,500,000.
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