Deal Review – Medical Office in Arkansas
Hi Team, We reviewed a medical office lead in Arkansas last Saturday. Here are the key details: - Asking Price: $1.74MM - NOI: $129,000 - Monthly Income: $11,850 We initially explored four options, but the seller is only open to two: Option 1: We proposed a cash offer of $ 1.1 million, but the seller is firm at $ 1.4 million. Option 2: We considered taking over the existing mortgage, which carries a favorable 3.75% interest rate. The seller currently owes $600,000 and pays $5,200/month. Our offer: $200,000 down, with monthly payments of $2,500 over 7 years. Seller’s counter: $300,000 down and $3,500/month. He also mentioned there's a lot behind the office that could potentially support an additional apartment building. Would love to hear your thoughts on how best to proceed.