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480 Myrtle Street, New Brit...

Amodio & Co. Acquires Office Building In New Britain, CT For $2.5M
SOLDOffice

Amodio & Co. Acquires Office Building In New Britain, CT For $2.5M

480 Myrtle Street, New Britain, Connecticut 06053, United States

$2,500,000

$20/SF

Building Size

125,083 SF

Asset Type

Office

Closing

Feb 17, 2022

AI

An office property located at 480 Myrtle St in New Britain, CT was recently sold for a transaction price of $2,500,000. The property covers an area of 125,083 square feet, resulting in a price per square foot of $20. The sale of this office asset was facilitated by Frank Amodio, CCIM & Eric Amodio, CCIM from Amodio & Co.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: $2,500,000
  • Date: 02/18/2022
  • Address: 480 Myrtle St
  • Market: New Britain, CT
  • Brokers: Frank Amodio, CCIM & Eric Amodio, CCIM - Amodio & Co.
  • Size: 125,083 square feet
  • Price Per Square Foot: $20

The sale of the office property at 480 Myrtle St was successfully executed with the assistance of Frank Amodio, CCIM & Eric Amodio, CCIM of Amodio & Co. Their expertise and representation played a significant role in completing the transaction.

Players

Frank Amodio

Broker

$18.3M

vol

3 deals

Broker

New Britain Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.35%

Cash-on-Cash

-1.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93