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Trusted Properties, LLC Acquires Mixed-Use Property In Southington, CT For $1M

Property Image
SOLD
$1,000,000

Connecticut

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Mixed-use5,284 SF
Sold 12/18/2020
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Property Image
SOLD

Trusted Properties, LLC Acquires Mixed-Use Property In Southington, CT For $1M

158 North Main Street, Southington, CT, USA

See Similar Deals
Mixed-use5,284 SF
Sold 12/18/2020
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Summary

CONNECTICUT
Asset Type:Mixed-use
Price Per Square Foot:$189
Total Square Footage:5,284 SF
Transaction Type:Sale

The mixed-use property located at 158 North Main Street in Southington, CT has been sold for a price of $1,000,000. The transaction took place on December 18, 2020, with Trusted Properties, LLC acquiring the property from People's United Bank. The property spans 5,284 square feet and was sold at a price per square foot of $190.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $1,000,000
  • Seller: People's United Bank
  • Seller's Representative: Thomas Wilks & Andrew Hale - OR&L Commercial, LLC
  • Buyer: Trusted Properties, LLC
  • Buyer's Representative: Robert Montesi - Goman+York

The sale of the property was facilitated by Thomas Wilks and Andrew Hale from OR&L Commercial, LLC, who represented the seller, People's United Bank. On the buyer's side, Robert Montesi of Goman+York acted as the representative for Trusted Properties, LLC in the transaction.

Players

1 deal$1M volume
BROKER


Andrew Hale
1 deal$1M volume
BROKER

SELLER

Details

SOLD
IMAGE: Robert Montesi & Andrew Hale⁠ DATE: 12/18/2020⁠ ADDRESS: 158 North Main Street⁠ MARKET: Southington, CT⁠ ASSET TYPE: Mixed-use⁠ ⁠ SELLER: People’s United Bank⁠ BUYER: Trusted Properties, LLC⁠ SELLER’S REP: Thomas Wilks & Andrew Hale - OR&L Commercial, LLC⁠ BUYER’S REP: Robert Montesi - Goman+York⁠ ⁠ SALE PRICE: $1,000,000⁠ SF: 5,284 ~ PPSF: $190

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,552.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,740.51
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