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Calito Development Group Sells Plymouth Retail Property For $2.36M
SOLD
$2,360,000
Connecticut
See Similar DealsRetail10,640 SF
Sold 08/02/2023
SOLD
Calito Development Group Sells Plymouth Retail Property For $2.36M
568 Main Street Plymouth, Connecticut 06782, USA
See Similar DealsRetail10,640 SF
Sold 08/02/2023
Summary
CONNECTICUT
Asset Type:Retail
Price Per Square Foot:$221
Total Square Footage:10,640 SF
Transaction Type:Sale
The recently completed building located at 568 Main Street in Plymouth, CT has been sold by Calito Development Group to a Los Angeles investor for $2.36 million. The property, situated on 1.8 acres of land, is a retail establishment spanning 10,640 square feet. The sale price per square foot stands at $222.
Summary of Transaction Details
- Property Type: Retail
- Transaction Amount: $2,360,000
- Address: 568 Main Street, Plymouth, CT
- Market: Plymouth, CT
- Acres: 1.8
- SF: 10,640
- PPSF: $222
Torrington-based Calito Development Group, renowned for constructing retail properties for national retailers, successfully completed the construction of the building before selling it. The buyer, an investor from Los Angeles, saw potential in the property and acquired it for $2.36 million.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$125,866.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,384.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,187.60
Annual Debt Service$134,251.25
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