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Northeast Private Client Group Brokers Facilitate $6.05M Mixed-Use Property Sale In Milford, CT

Property Image
SOLD
$6,050,000
Robert "Bob" Paterno
Richard (Rich) Edwards
+ 1

Connecticut

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Mixed-use70,506 SF
Sold 11/19/2021
the dealplayerscompscontact
Property Image
SOLD

Northeast Private Client Group Brokers Facilitate $6.05M Mixed-Use Property Sale In Milford, CT

670-680 Boston Post Rd, Milford, CT, USA

See Similar Deals
Mixed-use70,506 SF
Sold 11/19/2021
Robert "Bob" Paterno
Richard (Rich) Edwards
+ 1
Contact now

Summary

CONNECTICUT
Asset Type:Mixed-use
Price Per Square Foot:$85
Total Square Footage:70,506 SF
Transaction Type:Sale

A mixed-use property located at 670-680 Boston Post Rd in Milford, CT has been sold for $6,050,000. The property spans 70,506 square feet, resulting in a price per square foot of $86. The transaction took place on November 19, 2021, with a capitalization rate of 7.18%.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $6,050,000
  • Address: 670-680 Boston Post Rd, Milford, CT
  • Market: Milford, CT
  • Square Footage: 70,506
  • Price per Square Foot: $86
  • Capitalization Rate: 7.18%

The sale was facilitated by Brad Balletto, Rich Edwards, Jeff Wright, Bob Paterno, and John Lockhart from the Northeast Private Client Group. They served as the brokers representing the involved parties in the transaction.

Players

Robert "Bob" Paterno
24 deals$125.1M volume
BROKER

Jeff Wright
NorthEast Private Client Group
30 deals$138.9M volume
BROKER

Richard (Rich) Edwards
NorthEast Private Client Group
30 deals$150.9M volume
BROKER

John Lockhart
NorthEast Private Client Group
10 deals$40.2M volume
BROKER

Details

SOLD
IMAGE: John Lockhart, Bob Paterno, Jeff Wright, Rich Edwards & Brad Balletto DATE: 11/19/2021 ADDRESS: 670-680 Boston Post Rd MARKET: Milford, CT ASSET TYPE: Mixed-use BROKERS: Brad Balletto, Rich Edwards, Jeff Wright, Bob Paterno & John Lockhart - Northeast Private Client Group SALE PRICE: $6,050,000 SF: 70,506 ~ PPSF: $86 CAP: 7.18%

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

$322,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$21,494.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,680.09
Annual Debt Service$344,161.04