1025 Broadway Artists and Professional Studios

1.0 Executive Summary

1.1 Company Summary

The Concept is to take the old Burke Hotel which was constructed in 1906 and closed its doors
in 1970, and has been literally vacant for the last 43 years, modernizing it and all the while
keeping its unique design primarily intact. Taking the 2nd and 3rd floors and renovating them
and turning them into a truly unique Art Gallery, Artists studio creative space, Possible
recording studio, as well as, modern Professional Office Complex for smaller businesses who are
interested in centralized high end offices with all the amenities found in the high rises just a few
blocks away, without all the hassles or headaches encompassed with such real estate. The
company will remodel the suites to be available for rent or lease in an as is or built to suite
fashion (for professional complex and recording studio's only) The Artists studio's will be
essentially titled after Well Known artists but will only be in title only, the artists can of course
design there suites to suite there individual styles and designs
2.0 Products and Services
THIS IS a COMMERCIAL PROPERTY (OFFICE) NOT A RESIDENCE OR APARTMENT Located in the
heart of the Golden Triangle. Historic building. Office may be configured to suite your needs
from a 140 square foot private suite up to 600 square ft. (3rd floor only)
Front and rear entrances
on-street parking
Restaurants and shopping within walking distance
Ideal space for a variety of businesses
24/7 facility access
Special Event Rooftop Rental
Lease Terms
Artists Studio's

$300-$400 110sq are ft. to 150 square ft.

Offices are between $400-$600 110 square ft. to 150 square ft. or built to suit up to 600
sq. (approximately $1300-$1500)
$250.00 security deposit per Artists suite $450.00 security deposit per professional
Suite
12 month or greater lease preferred. Full service gross lease. Tenant pays for internet if
required.
$50-$100 per hour rooftop conference rentals
$400-$2000 Special Event Rentals (March September)

Rental Features
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1025 Broadway Artists and Professional Studios

Cable ready
Heating
Community room access
each artists studio has sink

High speed internet

Air conditioning

Shared restroom facilities

4.3 Sales Strategy

for rental of all studio's available for rent with no vacancies is $13,300.00 per month, which
does not include the deposits nor Internet service fee of $25 per month per business which
could provide with full capacity and all tenants using service would provide an extra $750 a
month with deposits its $10,700.00 for Artists studios and for Professional offices
$159,600.00 is a full capacity rental for 1 year gross
Rooftop Rental March-September 4-8 events @ $400-$2000 each minimum $11,200
Maximum $112,000 during peak
TOTAL INCOME POTENTIAL 1St YEAR: $271,600.00
Initial costs besides purchase of building
-

Backup generator (between $5,000-$7000)

Window Replacement and A/C UNITS $3,000-$4,500 for Windows and approximately
$10,000 for all A/c units
Approximate utilities cost per month $1,500
ADA Compliance and for restrooms remodels approximately $20,000 each floor
Complete remodel minus above approximate material only per floor $25,000-$40,000
Rooftop build $65,000-$90,000
Misc equipment etc $40.000
Between $250,000-$300,000 total remodel cost
Electricians $25,000
Plumbers $15,000
Duanes Project mgmt. cost and design $13,000
Insurance
Fire escape replacement

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