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Michael Lombardi Of Horvath & Tremblay Facilitates $4.8M Retail Sale In Norwalk & Enfield, CT
SOLD
$4,810,458
Connecticut
See Similar DealsRetail
Sold 10/27/2023
SOLD
Michael Lombardi Of Horvath & Tremblay Facilitates $4.8M Retail Sale In Norwalk & Enfield, CT
480 Westport Avenue & 41 Hazard Avenue
See Similar DealsRetail
Sold 10/27/2023
Summary
CONNECTICUT
Asset Type:Retail
Transaction Type:Sale
An Olive Garden located at 41 Hazard Avenue in Enfield, Connecticut has been sold for $2.26 million. The transaction involved a long-term NNN lease with a duration of 11+ years. The property is situated in a high-demand market in Enfield, CT.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2.26 million
- Address: 41 Hazard Avenue, Enfield, CT
- Market: Enfield, CT
The sale of the Olive Garden was facilitated by Michael Lombardi of Horvath & Tremblay. Lombardi served as the broker in this transaction. This deal adds to his track record of successful real estate transactions in the Connecticut market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$256,557.78
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,090.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,804.03
Annual Debt Service$273,648.30
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