Michael Lombardi Of Horvath & Tremblay Facilitates $4.8M Retail Sale In Norwalk & Enfield, CT
480 Westport Avenue & 41 Hazard Avenue
$4,810,458
Building Size
—
Asset Type
Retail
Closing
Oct 27, 2023
AI
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.
Norwalk Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.30%
Cash-on-Cash
-0.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93