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87 Main Street New Canaan, ...

Updated Oct 29, 2024

David Adam Realty, Inc Sells Mixed-Use Property In New Canaan, CT For $2.45M
SOLDMixed-use

David Adam Realty, Inc Sells Mixed-Use Property In New Canaan, CT For $2.45M

87 Main Street New Canaan, Connecticut 06840, USA

$2,450,000

$381/SF

Building Size

6,417 SF

Asset Type

Mixed-use

Closing

Jun 23, 2023

About this deal

AI

"The Bank Building," a 6,417 square-foot mixed-use former bank building located at 87 Main St., was sold for $2.45 million. The property, represented by Sean Grathwohl of David Adam Realty, Inc., offers a prime investment opportunity in New Canaan, CT. With a price per square foot of $382, this property provides a valuable asset for its new owner.

Summary of Transaction Details

  • Property Type: Mixed-Use
  • Transaction Amount: $2,450,000
  • Square Footage: 6,417
  • Address: 87 Main Street, New Canaan, CT
  • Market: New Canaan, CT
  • Seller: David Adam Realty, Inc - Sean Grathwohl

The successful sale of "The Bank Building" was made possible through the expertise and representation of Sean Grathwohl from David Adam Realty, Inc. This strategic transaction highlights the dedication and professionalism of those involved in the deal, ensuring a seamless transfer of ownership for the mixed-use property.

Players

DI
David Adam Realty IncSeller

New Canaan Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $381 per square foot on a published $2.5M for 6,417 square feet (2023).

Browse Connecticut mixed use sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.47%

Cash-on-Cash

-1.85%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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