DealPoint Merrill Acquires Retail Property For $5.2M In Meriden, CT
SOLD
$5,200,000
Connecticut
See Similar DealsRetail158,792 SF
Sold 08/10/2020
SOLD
DealPoint Merrill Acquires Retail Property For $5.2M In Meriden, CT
560-566 W Main St, Meriden, CT, USA
See Similar DealsRetail158,792 SF
Sold 08/10/2020
Summary
CONNECTICUT
Asset Type:Retail
Price Per Square Foot:$32
Total Square Footage:158,792 SF
Transaction Type:Sale
DealPoint Merrill has acquired a retail property located at 560-566 W Main St in Meriden, CT. The property, owned by Centennial Main, LLC, was sold for a total price of $5,200,000. Spanning across 158,792 square feet, the property was sold at an average price per square foot of $33.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $5,200,000
- Address: 560-566 W Main St, Meriden, CT
- Market: Meriden, CT
The deal was facilitated by Joseph French Jr. and Kodi Traver from Marcus & Millichap, who served as the brokers for both the buyer, DealPoint Merrill, and the seller, Centennial Main, LLC.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$277,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,474.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,650.65
Annual Debt Service$295,807.83
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