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New Horizons Machine Co. Inc. Acquires Mixed-Use Property In Newtown For $1.8M

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SOLD
$1,800,000

Connecticut

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Mixed-use
Sold 07/05/2024
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SOLD

New Horizons Machine Co. Inc. Acquires Mixed-Use Property In Newtown For $1.8M

22 Commerce Road

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Mixed-use
Sold 07/05/2024
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Summary

CONNECTICUT
Asset Type:Mixed-use
Transaction Type:Sale

Located at 22 Commerce Road in Newtown, CT, this mixed-use property was recently sold for $1.8 million in a transaction involving New Horizons Machine Co. Inc. as the buyer and 22 Commerce St. as the seller. The deal was facilitated by Andreas Senie from EAC Properties - KW Commercial representing the buyer and Mike Struna from Advantage Realty Commercial representing the seller. The financing for this transaction was provided by Chad Stewart from Savings Bank of Danbury.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $1,800,000
  • Buyer: New Horizons Machine Co. Inc.
  • Seller: 22 Commerce St.
  • Buyer's Rep: Andreas Senie - EAC Properties - KW Commercial
  • Seller's Rep: Mike Struna - Advantage Realty Commercial
  • Lender: Chad Stewart - Savings Bank of Danbury

EAC Properties' Andreas Senie highlighted the strategic benefits of the Newtown property for New Horizons' operational growth and access to local resources, making this sale a significant move for the buyer's expansion efforts.

Players

Andreas Senie
1 deal$1.8M volume(203) 584-7257
BROKER

J. Michael Struna
Advantage Realty Commercial
1 deal$1.8M volume(203) 733-1290
BROKER

Savings Bank of Danbury
LENDER

Details

SOLD
IMAGE: 07/05/2024 ADDRESS: 22 Commerce Road MARKET: Newtown, CT ASSET TYPE: Mixed-use BUYER: New Horizons Machine Co. Inc. SELLER: 22 Commerce St. BUYER'S REP: Andreas Senie - EAC Properties - KW Commercial SELLER'S REP: Mike Struna - Advantage Realty Commercial LENDER: Chad Stewart - Savings Bank of Danbury SALE PRICE: $1,800,000 NOTE: EAC Properties' Andreas Senie represented the buyer, New Horizons Machine Co. Inc., while Advantage Realty Commercial's Mike Struna represented the seller in the $1.8 million sale of 22 Commerce St., financed by Chad Stewart at Savings Bank of Danbury. Senie highlighted the strategic benefits of the Newtown property for New Horizons' operational growth and access to local resources.

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

$96,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,395.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,532.92
Annual Debt Service$102,395.02