Kimball Midwest Acquires Industrial Property In Newtown, CT For $4.4M
SOLD
$4,400,000
Connecticut
See Similar DealsIndustrial142,000 SF
Sold 09/17/2021
SOLD
Kimball Midwest Acquires Industrial Property In Newtown, CT For $4.4M
14 Prospect Dr, Newtown, CT, USA
See Similar DealsIndustrial142,000 SF
Sold 09/17/2021
Summary
CONNECTICUT
Asset Type:Industrial
Price Per Square Foot:$31
Total Square Footage:142,000 SF
Transaction Type:Sale
A 41-acre industrial property located at 14 Prospect Dr in Newtown, CT has been sold for $4,400,000. The property spans 142,000 square feet, resulting in a price per square foot of $31. The transaction took place on September 17, 2021.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $4,400,000
- Address: 14 Prospect Dr, Newtown, CT
- Market: Newtown, CT
- Acres: 41
- Price Per Acre: $107,317
- Square Footage: 142,000
- Price Per Square Foot: $31
The buyer in this transaction is Kimball Midwest, represented by Pat McCurdy. The seller's representatives are Louis Zuckerman and Patrick Colwell of CBRE. Bruce Wettenstein of Vidal/Wettenstein acted as the buyer's representative.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$234,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,632.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,858.24
Annual Debt Service$250,298.94
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