Horvath & Tremblay Brokers Facilitate $2.23M Retail Sale In Coventry, CT
SOLD
$2,230,000
Connecticut
See Similar DealsRetail9,100 SF
Sold 07/30/2021
SOLD
Horvath & Tremblay Brokers Facilitate $2.23M Retail Sale In Coventry, CT
1600 Boston Turnpike, Coventry, CT, USA
See Similar DealsRetail9,100 SF
Sold 07/30/2021
Summary
CONNECTICUT
Asset Type:Retail
Price Per Square Foot:$245
Total Square Footage:9,100 SF
Transaction Type:Sale
The retail property located at 1600 Boston Tpke in Coventry, CT, was recently sold for a transaction amount of $2,230,000. The property spans a total of 9,100 square feet, resulting in a price per square foot of $245. Additionally, the property sits on 1.13 acres, with a price per acre of $1,973,451.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,230,000
- Square Footage: 9,100
- Price per Square Foot: $245
- Address: 1600 Boston Tpke., Coventry, CT
- Market: Coventry, CT
- Acres: 1.13
- Price per Acre: $1,973,451
The sale of this retail property was facilitated by Bob Horvath, Todd Tremblay, and Hobart Hare from Horvath & Tremblay, who represented the involved parties in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$118,933.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,922.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,571.34
Annual Debt Service$126,856.05
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