Legacy Church Acquires Retail Property In Farmington, CT For $2.45M
15 Executive Drive, Farmington, Connecticut 06032, United States
$2,450,000
$87,500/SF
Building Size
28 SF
Asset Type
Retail
Closing
Jan 20, 2023
AI
The retail property located at 15 Executive Dr in Farmington, CT has been sold in a recent transaction. The property spans 28,000 square feet and was sold at a price of $2,450,000, resulting in a price per square foot of $88. The buyer of the property is Legacy Church, while the seller is Powerhouse Partners LLC.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,450,000
- Address: 15 Executive Dr, Farmington, CT
- Market: Farmington, CT
- Buyer: Legacy Church
- Seller: Powerhouse Partners LLC
- Buyer's Representative: Jeff Rothman - EXP Realty
- Seller's Representative: Luke Massirio - O,R&L Commercial, LLC
- Square Footage: 28,000
- Price per Square Foot: $88
During the transaction, Legacy Church was represented by Jeff Rothman from EXP Realty. On the other hand, Luke Massirio from O,R&L Commercial, LLC acted as the representative for Powerhouse Partners LLC.
Players
Farmington Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.47%
Cash-on-Cash
-1.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93