Portfolio Project
Lagrange Professional Center
The Story
Purchased during the Great Recession of 2008, this existing property provided a great skeleton with which to work and make improvements. With a $1 million remodeling budget, the 1950’s building was brought into the 21st Century with an elevator, new mechanicals, roof and windows. Located in a thriving community the building was easily leased to medical tenants and has remained 100% leased for 12 years, providing investors with 10% annual returns on investment plus tremendous appreciation.
The Details
Acquisition Price: $1,850,000
Amount Invested: $1,000,000
Total Investment: $2,850,000
Sale Price / Value: $7,250,000
Profit: $4,400,000
Total Return on Investment: 154%
