Updated Dec 4, 2024
Marcus & Millichap Oversees $19.2M Sale Of Manchester Parkade Retail Center In Manchester, CT
346 Middle Turnpike West & 422 Middle Turnpike West
$19,200,000
$31/SF
Building Size
302,000 SF
Asset Type
Retail
Closing
Dec 21, 2023
About this deal
AI
Alex Quinn & James Koury of Marcus & Millichap facilitated the $19.2 million sale of Manchester Parkade, a retail property located at 346-422 Middle Turnpike West in Manchester, CT. The property spans 302,000 square feet and is home to a variety of tenants, including Stop and Shop grocery store, Dollar Tree, Planet Fitness, and the State of Connecticut Department of Children’s Services. The sale price equates to a price per square foot of $64.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $19,200,000
- Square Footage: 302,000
- Address: 346-422 Middle Turnpike West, Manchester, CT
- Market: Manchester, CT
The sale was overseen by Alex Quinn & James Koury from Marcus & Millichap, who represented the buyer and seller in the transaction. They successfully facilitated the deal for Manchester Parkade, bringing together the various parties involved in the sale.
On the Map
$19,200,000
$31/SF
Retail
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Manchester 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
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93