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158 North Main Street, Sout...

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

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

158 North Main Street, Southington, CT, USA

$1,000,000

$189/SF

Building Size

5,284 SF

Asset Type

Mixed-use

Closing

Dec 17, 2020

AI

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

Robert Montesi

Broker

$1M

vol

1 deal

Broker
PB
People’s United BankSeller

Southington Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

15.86%

Cash-on-Cash

-4.53%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93