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3 Pearl Street, Mystic, Con...

Robert Noeldechen Of Marcus & Millichap Capital Corporation Secures $1.54M Loan For Mixed-Use Property Acquired At 3 Pearl St, Mystic, CT
FINANCEDMixed-use

Robert Noeldechen Of Marcus & Millichap Capital Corporation Secures $1.54M Loan For Mixed-Use Property Acquired At 3 Pearl St, Mystic, CT

3 Pearl Street, Mystic, Connecticut 06340, United States

$1,540,000

$291/SF

Building Size

5,284 SF

Asset Type

Mixed-use

Closing

May 21, 2022

AI

A mixed-use property located at 3 Pearl St in Mystic, CT was recently involved in a closed transaction. The property spans approximately 5,284 square feet and is situated in the market of Mystic, CT.

Summary of transaction details

  • Property Type: Mixed use
  • Loan Amount: $1,540,000
  • Date: 05/22/2022
  • Address: 3 Pearl St
  • Market: Mystic, CT
  • Asset Type: Mixed use
  • Square Footage: 5,284

The transaction was facilitated by Robert Noeldechen from Marcus & Millichap Capital Corporation, who represented the parties involved in the deal. Robert Noeldechen served as the broker for this transaction.

Players

Robert Noeldechen

Marcus & Millichap

Broker

$14M

vol

4 deals

Broker

Mystic Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

10.30%

Cash-on-Cash

-2.94%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93