Updated Sep 5, 2024
Northeast Private Client Group Sells Belden Sq. Mixed-Use Property In Norwalk, CT For $9.7M
747 Belden Avenue Norwalk, Connecticut 06850, USA
$9,700,000
Building Size
—
Asset Type
Mixed-use
Closing
Jun 2, 2023
About this deal
AI
The boutique mixed-use property known as Belden Sq. in Norwalk, CT has been sold by Northeast Private Client Group (NEPCG) for a total of $9.7 million. Located at 747 Belden Ave, this property offers a mix of 24 multifamily units, a medical suite, and a parking garage. The presence of Yale New Haven Hospital as a stable tenant adds to the attractiveness of this asset.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $9,700,000
- Address: 747 Belden Avenue, Norwalk, CT
- Market: Norwalk, CT
The successful sale of Belden Sq. was facilitated by Brad Balletto, Rich Edwards, and Jeff Wright from Northeast Private Client Group (NEPCG) as the brokers involved in the deal.
On the Map
$9,700,000
Mixed-use
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Players
Norwalk 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
1.64%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93