Buying Office Space

Is now a good time to buy office space? Their is definitely opportunity so why would it make sense?

For example if you purchased a 10,000 sf free standing office building your scenario would look like this:

Purchase Price:	$800,000
Annual Property Tax:	$15,000
Insurance:	$4000
Maintenance/ cleaning/ etc:	$20,000

Down Payment:    

SBA 79a) Loan	$80,000	90% Financing purchase, 85% Refinance, 25 Year Amortization, Good Credit.
SBA 504 Loan	$80,000	90% Financing purchase, Great Program, closing fees included in down payment.
Conventional	$200,000	Typical 25% down in today's market, 20 Year Loan
Land Contract	Varies	Depends on owners equity position and loan terms. Possible to have low or no down payment and often at the lowest rates. Again depends owners ability and availibility of space.

Monthly Payment:  

SBA 7(a) Loan	$7862	90% Financing purchase, 85% Refinance, 25 Year Amortization, Good Credit. Includes NNN Charges
SBA 504 Loan	$7862	90% Financing purchase, Great Program, closing fees included in down payment.
Conventional	$8526	Typical 25% down in today's market, 20 Year Loan
Land Contract	Varies	Depends on owners equity position and loan terms. Possible to have low or no down payment and often at the lowest rates. Again depends owners ability and availibility of space.

Monthly Lease Payment:  

Lease

$11,667

Gross lease Rate $14 not including NNN Charges

For Office solutions in Michigan visit, MichiganOffice.org 

* This is for illustration purposes only. Actual numbers may vary. Contact us for purchase options.