Updated Dec 21, 2023
Marcus & Millichap Capital Corporation Provides $3.1M Loan For Retail Property Acquisition In Monroe, CT
447 Monroe Turnpike, Monroe, CT 06468
$3,100,000
$30/SF
Building Size
101,495 SF
Asset Type
Retail
Closing
Dec 13, 2021
About this deal
AI
A retail property located at 447 Monroe Turnpike in Monroe, CT has recently undergone a closed transaction. The property consists of 6 units and is situated in the Monroe market.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $3,100,000
- Date: 12/13/2021
- Address: 447 Monroe Turnpike, Monroe, CT
- Market: Monroe, CT
- Units: 6
The loan for this transaction was facilitated by Steven Rock from Marcus & Millichap Capital Corporation. The loan amount was $3,100,000 with a seven-year term and an interest rate of 3.5 percent. The loan has a 25-year amortization period and is based on a five-year treasury index rate.
Players
Monroe Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.12%
Cash-on-Cash
-1.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93