Northpath Investments Acquires Retail Property In Milford, CT For $11M
SOLD
$11,000,000
+ 2
Connecticut
See Similar DealsRetail180,315 SF
Sold 12/01/2021
SOLD
Northpath Investments Acquires Retail Property In Milford, CT For $11M
143 Cherry Street, Milford, CT, USA
See Similar DealsRetail180,315 SF
Sold 12/01/2021
+ 2
Summary
CONNECTICUT
Asset Type:Retail
Price Per Square Foot:$61
Total Square Footage:180,315 SF
Transaction Type:Sale
The retail property located at 143 Cherry Street in Milford, CT has been sold for a price of $11,000,000. The property spans 180,315 square feet, resulting in a price per square foot of $61. The transaction took place on December 1, 2021.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $11,000,000
- Address: 143 Cherry Street, Milford, CT
- Square Footage: 180,315
- Price per Square Foot: $61
- Market: Milford, CT
The buyer of the property is Northpath Investments, while the seller is Hampshire Companies. The deal was facilitated by the brokerage team of Jeffrey Dunne, David Gavin, Steve Bardsley, Jeremy Neuer, and Travis Langer, all from CBRE.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$586,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,080.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,145.61
Annual Debt Service$625,747.34
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