MESEROLE ST.

Sold

70,000 Sq foot Commerical Property Available

• Historic 70,000 SQ. FT brewery built in mid 1800s is currently being converted into a music industry commercial community
• Brewery consists of four attached buildings with 5 floors each, for a total of 20 floors, plus approximately 12,000 SQ. FT of outside space
• Project is almost fully complete with 16 ½ of the 20 floors rented, and 100% of the outside space rented

• Purchase Price: $27,500,000
• At current occupancy: Rent is 1,860K/yr, net profit is 1,600k/yr for a 6.7% annual return
• Cost to complete project is $1,300k. This will provide $540K additional net profit, annual returns jump up to 8.5% , with $6 to $7.5 million of value also being created
• Build out of roof deck at tenant’s expense (for 1-2 years free rent) produces $ 420k in net profit, annual returns jump to 10.1%, with $11.0-13.5 million in value created