This was the first draft of the proposal for a Cultural center
Proposal for:
CULTURE OF PEACECENTER
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FOR LEASE:
Palmetto Expressway and NW 27 avenue:
2,500 sqft. @ $ 17.00/sqft. plus $ 5.00 CMA (common maintenance area charges) – a total of: $ 22.00/sqft. – 3 year minimum: $ 4,583.33 per month
FOR SALE: Zoning for church, banquet hall etc., sufficient parking, handicapPalmetto Expressway and NW 47 avenue:
Option 1: 3,228 sqft. - $ 613,320.00 (4878 NW 167 street)
Option 2: 5,266 sqft. - $ 1,000,540.00 (4842-4846 NW 167 st)
Association fee: cost per year $ 2.20 / sqft. includes:
Property Insurance, security 7 PM – 7 AM, water, waste, trash, landscaping, outdoor lightning
Cost and expense comparison for option 1:
Average cost for build $ 20.00/sqft.
Build out includes: dry walls for offices, electrical, paint,tile and/or carpet flooring, drop ceiling $ 64,560.00
Furniture for office, banquet room and meeting hall $ 30,000.00
A/C unit and duc work $ 12,500.00
Kitchen and equipment $ 10,000.00
Total estimate: $ 117,060.00
Present church property in Kendallest. value: $ 550,000.00
Purchase price: $ 613,320.00
Down payment: $ 400,000.00 (present asset $ 550,000.00)
Mortgage balance: $ 213,320.00
Monthly Payment @ 7.5% $ 1,488.00 per month
Association fee: $ 270.00 per month
FPL monthly: ??
Possible Income: Banquet halls and meeting rooms for 3,000 sqft. (without serving food) renting on an average between $ 500 and $ 1,200 per day.
Estimated 3 days per month rental income would pay for monthly expenses.
=== added later ====
I (GC) forgot to mention that there have been several updates, including the salary of a “property manager”. The most updated version will be given on Sunday at the Hotel Intercontinental (NW 87th Avenue off of NW 25th Street, west of the Palmetto), at 10 a.m.
Also there will be a presentation of the financial situation of the church.
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