Isaiah Harf Of Stan Johnson Company Represents Seller In $7.6M Sale In Washington DC
SOLD
$7,600,000
Condo4,403 SF
SOLD
Isaiah Harf Of Stan Johnson Company Represents Seller In $7.6M Sale In Washington DC
1515 15th St NW, Washington, DC, 20...
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Summary
Asset Type:Condo
Price Per Square Foot:$1,726
Total Square Footage:4,403 SF
Transaction Type:Sale
A 4,403-square-foot retail condo located at 1515 15th St NW, in the Washington, DC market has been sold for $7,600,000. The property, situated on the ground floor of the Metropole Condominiums, was fully leased to TD Bank at the time of sale. Built in 2008, the asset lies within the Logan Circle neighborhood.
Summary of transaction details:
- Property Type: Retail Condo
- Transaction Amount: $7,600,000.00
- Address: 1515 15th St NW, Washington, DC
- Square Footage: 4403
- Market: Washington
- Seller's Representative: Isaiah Harf - Stan Johnson Company
- Buyer: Undisclosed 1031 exchange buyer
Isaiah Harf represented the seller, a private investor based in Maryland, during this transaction. The buyer, a California-based entity, utilized a 1031 exchange to acquire the property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$405,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$27,001.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,027.88
Annual Debt Service$432,334.53
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