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Jaquel Patterson Acquires Office Building In Fairfield, CT For $1.95M
SOLD
$1,950,000
Connecticut
See Similar DealsOffice8,937 SF
Sold 12/20/2023
SOLD
Jaquel Patterson Acquires Office Building In Fairfield, CT For $1.95M
883 Black Rock Turnpike
See Similar DealsOffice8,937 SF
Sold 12/20/2023
Summary
CONNECTICUT
Asset Type:Office
Price Per Square Foot:$218
Total Square Footage:8,937 SF
Transaction Type:Sale
Dr. Jaquel Patterson, founder of Fairfield Family Health, recently acquired a two-story office building at 883 Black Rock Turnpike in Fairfield, CT. The property was sold by Ury & Moskow for $1.95 million. The office building spans 8,937 square feet, resulting in a price per square foot of $218.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $1,950,000
- Address: 883 Black Rock Turnpike
- Market: Fairfield, CT
Ted Hoyt from Hodson Realty represented Jaquel Patterson as the buyer's representative in the deal, while Eva Kornreich from Angel Commercial represented Ury & Moskow as the seller's representative.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$103,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,927.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,243.99
Annual Debt Service$110,927.94
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