Inverness Office Park AL LLC Acquires Inverness Center Parkway Office Portfolio For $16.05M
46 Inverness Parkway, Birmingham, Alabama 35242, United States
$16,050,000
Building Size
—
Asset Type
Office
Closing
Aug 28, 2022
About this deal
AI
The office property located at 40, 42, 44, and 46 Inverness Center Parkway in Birmingham, Alabama has been sold for a total price of $16,050,000. The buyer of the property is Inverness Office Park AL LLC, while the brokerage services were provided by West Harris of Harbert Realty Services.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $16,050,000
- Address: 40, 42, 44 & 46 Inverness Center Parkway, Birmingham, AL
- Market: Birmingham, AL
This transaction marks the successful acquisition of the office property by Inverness Office Park AL LLC. West Harris, representing Harbert Realty Services, played a crucial role in facilitating the deal. The sale price of $16,050,000 reflects the value of the property in the Birmingham market.
Hoover Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93