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American Bailey Corp Acquires Office Building From Kings-Post Associates For $6.59M
SOLD
$6,590,000
Connecticut
See Similar DealsOffice32,000 SF
Sold 04/19/2024
SOLD
American Bailey Corp Acquires Office Building From Kings-Post Associates For $6.59M
315 Post Road West
See Similar DealsOffice32,000 SF
Sold 04/19/2024
Summary
CONNECTICUT
Asset Type:Office
Price Per Square Foot:$205
Total Square Footage:32,000 SF
Transaction Type:Sale
The property involved in the transaction is a 32,000 square-foot office building located at 315 Post Road West in Westport, CT. The sale price for this asset was $6,590,000, equivalent to a price per square foot of $206.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $6,590,000
- Address: 315 Post Road West
- Market: Westport, CT
- Buyer: Doug Bailey - American Bailey Corp
- Seller: Kings-Post Associates
- Brokers: Charlene O’Connell & Scott Peterson - Choyce Peterson
The deal was facilitated by commercial real estate brokerage firm Choyce Peterson, Inc. The property was sold on behalf of Kings-Post Associates to Post West Park LLC, an affiliate of American Bailey Corp.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$351,466.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,412.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,239.96
Annual Debt Service$374,879.54
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