Fully describe this property and its income earning activities.
Total area of building - 1,407 mÂ² Zoning - Office Bulk Used 551 mÂ² Height Used 1 Coverage Allowed 70 % (985 m2) Coverage Used 34% Parking Required 22 (1 per 25 mÂ²) Parking Provided 12 covered + 3 open + 7 street parking Building lines 5-meter street front and 3-meters side 1. MAIN BUILDING: 386 m2 The ground floor consists of a reception area, eight offices, boardroom, two ablution areas and a balcony. The lower ground floor consists of four offices, two filling rooms, a kitchen and two ablution areas. Accessed separately is a storeroom, an office with a kitchenette and ablution. 2. BACK OFFICE: 87 m2 This building consists of a reception with a waiting area, a kitchen, two offices and ablution. 3. TRAINING ROOM: 68 m2 The building consists of an open plan training room with a built-in kitchen. 4. MINORS to value of N$ 450,000.00 Alarm and CCTV Air conditioning Boundary walls with electrification and retaining walls Net carports x 12 Paving
Rental & Expense Calculations:
Offices 351 x 185 p. mÂ² = N$ 64,935 Back offices 155 x 185 p. mÂ² = N$ 28,675 Bachelor 1 x 5500 p. m = N$ 5,500 Parking 12 x 650 p.p N$ 7,800 Sub Total N$ 106,910 Vacancy 5% N$ 5,346 Less Expenses 15% N$ 16,037 NET INCOME N$ 85,528 Annual Income N$ 1,026,336