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
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