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1600 Boston Turnpike, Coven...

Horvath & Tremblay Brokers Facilitate $2.23M Retail Sale In Coventry, CT
SOLDRetail

Horvath & Tremblay Brokers Facilitate $2.23M Retail Sale In Coventry, CT

1600 Boston Turnpike, Coventry, CT, USA

$2,230,000

$245/SF

Building Size

9,100 SF

Asset Type

Retail

Closing

Jul 29, 2021

AI

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.

Players

Robert Horvath

Horvath & Tremblay

Broker

$564M

vol

114 deals

Broker

Coventry Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.11%

Cash-on-Cash

-2.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93