Amodio & Co. Acquires Office Building In New Britain, CT For $2.5M
SOLD
$2,500,000
Connecticut
See Similar DealsOffice125,083 SF
Sold
SOLD
Amodio & Co. Acquires Office Building In New Britain, CT For $2.5M
480 Myrtle Street, New Britain, Connecticut 06053, United States
See Similar DealsOffice125,083 SF
Sold
Summary
CONNECTICUT
Asset Type:Office
Price Per Square Foot:$20
Total Square Footage:125083 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31
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