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568 Main Street Plymouth, C...

Calito Development Group Sells Plymouth Retail Property For $2.36M
SOLDRetail

Calito Development Group Sells Plymouth Retail Property For $2.36M

568 Main Street Plymouth, Connecticut 06782, USA

$2,360,000

$221/SF

Building Size

10,640 SF

Asset Type

Retail

Closing

Aug 2, 2023

AI

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.

Players

CL
Calito Development Group LLCSeller

Nikenbah 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

6.72%

Cash-on-Cash

-1.92%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93