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Paul Feuerstein Acquires Retail Asset From Charles River Realty In Manchester For $3.1M

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SOLD
$3,100,000

Connecticut

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Retail4,322 SF
Sold 01/28/2025
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SOLD

Paul Feuerstein Acquires Retail Asset From Charles River Realty In Manchester For $3.1M

240 Buckland Street

See Similar Deals
Retail4,322 SF
Sold 01/28/2025
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Summary

CONNECTICUT
Asset Type:Retail
Price Per Square Foot:$717
Total Square Footage:4,322 SF
Transaction Type:Sale

The asset involved in this transaction is a retail property located at 240 Buckland Street in Manchester, CT. The sale was completed for a total price of $3,100,000, encompassing a total square footage of 4,322, which amounts to a price per square foot of $717. The property is leased to Curaleaf under a NNN lease agreement.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $3,100,000
  • Address: 240 Buckland Street
  • Market: Manchester, CT
  • Square Footage: 4,322
  • Price Per Square Foot: $717
  • Buyer: Paul Feuerstein
  • Seller: Charles River Realty
  • Broker: Josh Goldflam - Highcap Group
  • Cap Rate: 8%

The transaction highlights the active involvement of key individuals and companies, with Josh Goldflam from Highcap Group representing the seller, Charles River Realty. The lease with Curaleaf contributes to the property's investment appeal.

Players

Josh Goldflam
29 deals$278.1M volume
BROKER

Details

SOLD
IMAGE: Josh Goldflam DATE: 01/28/2025 ADDRESS: 240 Buckland Street MARKET: Manchester, CT ASSET TYPE: Retail BUYER: Paul Feuerstein SELLER: Charles River Realty BROKER: Josh Goldflam - Highcap Group (@Highcap_Group) SALE PRICE: $3,100,000 SF: 4,322 ~ PPSF: $717 NOTE FROM BROKER: NNN leased Curaleaf sold for 8% CAP

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

$165,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,013.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,695.58
Annual Debt Service$176,346.98