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 Largest Event Center in Metro Cincinnati

  • Commercial Space
    14500 square_feet
    bedroom 0 Bedrooms
    bathroom 0 Baths
  • Flip/Rental
    $350,000
    Status : Available
    Year Built : 1964
 Description
Welcome to The Red Carpet! We are Greater Cincinnati's largest and most popular Event Center. Historically it has been a fixture in the area in which we serve and has been a staple of Entertainment for the largely African-American scene. That being said, our event center is a culturally diverse facility that has hosted some of Cincy's hottest cultural events and affairs. We have hosted Weddings, Parties, Concerts featuring well-known National as well as local acts, political affairs, community forums and much more. With a flair for elegance, we have truly put on some "Red Carpet" style events, but we have also catered to the more casual crowd. Whatever your tastes are, give us a call and let us give you a quote for your event. I'm sure that once you see our facility and meet our staff, that you will LOVE it!
 Rehab Work Needed
  • Appliances
  • Bathroom
  • Kitchen
  • Light Fixtures
 General Amenities
 Tags
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 Summary

Overview
Largest Event Center in Metro Cincinnati Flip/Rental
$350,000
Property ID: OH20078887
Address: Login to View
City: Cincinnati
State/Province: OH
Zip Code: 45231
Country: USA


Rental Analysis

+ Purchase Price: $350,000
+ Purchase Closing Cost: $10,500
+ Rehab Cost: $1,500
Total Acquisition Cost: $362,000


+ Annual Potential Rent: $24,000
- Vacancy (50%): $12,000
Annual Gross Income: $12,000
Annual Gross ROI: 3.31%


+ Property Taxes: $2,500
+ Insurance (6 Months): $5,000
+ HOA Fees: $1
+ Miscellaneous Expenses: $1
Total Annual Expenses: $7,502


Monthly Rent: $2,000
Monthly Net Cash Flow: $375
Net Operating Income: $4,498
CAP Rate: 1.24%

Flip Analysis

+ Purchase Price: $350,000
+ Purchase Closing Cost: $10,500
+ Rehab Cost: $10,000
Total Acquisition Cost: $370,500


+ Selling closing cost: $12,750
+ Agent Commision : $12,750
+ Insurance (6 Months) : $500
+ Utilities (6 Months): $1,000
+ Miscellaneous Expenses: $500
Total Holding Cost: $27,500


Total Flip Cost: $398,000
Projected ARV: $425,000
Net Income (Profit): $27,000
CAP Rate: 6.78%

 Message

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