Daily limit: 0/10
O,R&L Commercial Facilitates $3.3 Million Sale Of 57,000 Square Foot Industrial Building In Norwich
SOLD
$3,300,000
Connecticut
See Similar DealsIndustrial57,000 SF
Sold 10/15/2024
SOLD
O,R&L Commercial Facilitates $3.3 Million Sale Of 57,000 Square Foot Industrial Building In Norwich
243 Vergason Avenue Extension
See Similar DealsIndustrial57,000 SF
Sold 10/15/2024
Summary
CONNECTICUT
Asset Type:Industrial
Price Per Square Foot:$57
Total Square Footage:57,000 SF
Transaction Type:Sale
A 57,000-square-foot industrial building located at 243 Vergason Avenue Extension in Norwich, CT, has been sold for $3.3 million. The property encompasses 10 acres of land and is currently 53% leased, with American Systems Inc. occupying 30,000 square feet.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,300,000
- Sale Date: 10/15/2024
- Square Footage: 57,000
- Price Per Square Foot: $58
- Broker: William Braun - O,R&L Commercial
O,R&L Commercial was responsible for facilitating the sale of this industrial property, representing the interests involved in the transaction. The lease arrangement includes a significant tenant, American Systems Inc., which occupies a considerable portion of the total space.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$175,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,724.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,643.68
Annual Debt Service$187,724.20
Is there something missing? Send suggestions