Under contract-accepting backup offers. The Oaks shopping center located in the Business District of College Park, offers a mix of retail and office space. With multiple long-term tenants, this well-maintained building provides a stable income stream with substantial value add opportunity. This building offers 8 units with 5 current tenants fully occupying the leasable space. Tenants are responsible for interior buildouts, offering flexibility for customization. The property enjoys a prime location, situated directly across from Bishop Moore High School and near Edgewater High School. Frontage on Edgewater Dr and entrances on Arthur Ave and Webster St provide convenient access. Zoned MU-1/W/RP/SP/AR, the property allows for various commercial uses. Built in 1985 and updated since, this property features 9, 867 square feet of leasable area and an additional 1, 248 square feet of canopy area, totaling 11, 115 square feet
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William Raveis Real Estate
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RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $2,504,000 | $2,504,000 | $2,504,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.625% | 6.750% | 6.500% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.343% | 6.851% | 6.704% |
Monthly Tax Payment | $2,081 | $2,081 | $2,081 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $16,033 | $16,241 | $21,813 |
Total Monthly Payment | $18,239 | $18,447 | $24,019 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.