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ARBAZ Holdings, LLC Acquires Retail Property In East Haven, CT For $2.65M

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SOLD
$2,650,000

Connecticut

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Retail7 SF
Sold 01/27/2023
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Property Image
SOLD

ARBAZ Holdings, LLC Acquires Retail Property In East Haven, CT For $2.65M

96 Frontage Road, East Haven, Connecticut 06512, United States

See Similar Deals
Retail7 SF
Sold 01/27/2023
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Summary

CONNECTICUT
Asset Type:Retail
Price Per Square Foot:$378,571
Total Square Footage:7 SF
Transaction Type:Sale

Arbaz Holdings, LLC has acquired a retail property located at 96 Frontage Road in East Haven, CT. The transaction, which took place on January 27, 2023, involved a sale price of $2,650,000. The property spans across 7,000 square feet, resulting in a price per square foot of $379. The seller, Partners 95, LLC, was represented by Michael Richetelli from Colonial Properties, while Luke Massirio from OR&L represented the buyer, ARBAZ Holdings, LLC.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $2,650,000
  • Address: 96 Frontage Road, East Haven, CT
  • Market: East Haven, CT
  • Buyer: ARBAZ Holdings, LLC
  • Seller: Partners 95, LLC
  • Seller's Rep: Michael Richetelli - Colonial Properties
  • Buyer's Rep: Luke Massirio - OR&L
  • Square Footage: 7,000
  • Price per Square Foot: $379

The involvement of Luke Massirio from OR&L as the buyer's representative and Michael Richetelli from Colonial Properties representing the seller adds a significant dimension to this transaction. Their expertise in the real estate market undoubtedly played a crucial role in successfully closing the deal.

Players

7 deals$31.5M volume(203) 376-0904
BROKER

Details

SOLD
IMAGE: Luke Massirio DATE: 01/27/2023 ADDRESS: 96 Frontage Road MARKET: East Haven, CT ASSET TYPE: Retail BUYER: ARBAZ Holdings, LLC SELLER: Partners 95, LLC SELLER'S REP: Michael Richetelli - Colonial Properties BUYER'S REP: Luke Massirio - OR&L SALE PRICE: $2,650,000 SF: 7,000 ~ PPSF: $379

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$141,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,414.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,562.35
Annual Debt Service$150,748.22