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161 Hillside Road

Updated Dec 21, 2024

The Nest At Greenfield Hill, Inc Purchases Former Chase Bank At 161 Hillside Road For $1.5M
SOLDCommercial

The Nest At Greenfield Hill, Inc Purchases Former Chase Bank At 161 Hillside Road For $1.5M

161 Hillside Road

$1,500,000

$293/SF

Building Size

5,115 SF

Asset Type

Commercial

Closing

Dec 20, 2024

About this deal

AI

The property involved in this transaction is a former Chase Bank location, located at 161 Hillside Road in Fairfield, CT. The asset type is commercial, with a total area of 5,115 square feet. The sale was completed for a price of $1,500,000, which indicates a price per square foot of $293.

Summary of transaction details:

  • Property Type: Commercial
  • Transaction Amount: $1,500,000
  • Address: 161 Hillside Road
  • Market: Fairfield, CT
  • Square Footage: 5,115
  • Price Per Square Foot: $293
  • Buyer: The Nest at Greenfield Hill, Inc
  • Seller: 161 Hillside Road, LLC
  • Broker representing Seller: Richard Gretsch Jr - Gretsch Commercial
  • Broker representing Buyer: Stephen Press - Press|Cuozzo

Richard Gretsch Jr. of Gretsch Commercial and Stephen Press of Press|Cuozzo were the key individuals involved in the successful transaction, representing 161 Hillside Road, LLC, the seller, and The Nest at Greenfield Hill, Inc, the buyer, respectively. This collaboration facilitated the transfer of ownership for the property.

Players

Richard Gretsch Jr

Gretsch Commercial

Broker

$1.5M

vol

1 deal

Broker

Fairfield Commercial Market Snapshot

Boundary boundary · Commercial · Sale transactions

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Deal FAQ

About $293 per square foot on a published $1.5M for 5,115 square feet (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

10.58%

Cash-on-Cash

-3.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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