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560-566 W Main St, Meriden,...

DealPoint Merrill Acquires Retail Property For $5.2M In Meriden, CT
SOLDRetail

DealPoint Merrill Acquires Retail Property For $5.2M In Meriden, CT

560-566 W Main St, Meriden, CT, USA

$5,200,000

$32/SF

Building Size

158,792 SF

Asset Type

Retail

Closing

Aug 10, 2020

AI

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

Joseph French Jr.

Marcus & Millichap

Broker

$93.1M

vol

12 deals

Broker
DM
DealPoint MerrillBuyer

Meriden 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

3.05%

Cash-on-Cash

-0.87%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93