Updated Nov 15, 2023
New York Real Estate Investment Company Acquires Fully-Leased Retail Building In Westport, CT For $2.05M
26 Main St
$2,050,000
$630/SF
Building Size
3,254 SF
Asset Type
Retail
Closing
Apr 28, 2023
About this deal
AI
The fully-leased retail property located at 26 Main St in Westport, CT has been sold for $2.05 million. The building spans 3,254 square feet and has a price per square foot of $630. This transaction was finalized by Franco Fellah - HK Group, who represented a New York real estate investment company in the sale. The property is currently occupied by American Eagle Outfitters.
Summary of transaction details
- Property Type: Retail
- Sale Price: $2,050,000
- Square Footage: 3,254
- Price per Square Foot: $630
- Address: 26 Main St, Westport, CT
- Market: Westport, CT
- Broker: Franco Fellah - HK Group
HK Group's executive VP, Franco Fellah, played a crucial role in finalizing this sale. By successfully representing the New York real estate investment company, Fellah ensured a smooth transaction for both parties involved. The fully-leased building provided a promising investment opportunity, and the buyer recognized its potential value in the Westport market.
Players
Killarney Vale 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
7.74%
Cash-on-Cash
-2.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93