Atlantic Realty Cos Sells Retail Property In Newark, DE For $33.5M
250 East Main Street, Newark, Delaware 19711, United States
$33,500,000
$230/SF
Building Size
145,400 SF
Asset Type
Retail
Closing
Sep 22, 2022
About this deal
AI
The retail property located at 250 E Main St in Newark, DE has been sold for a price of $33,500,000. The property has a total area of 145,400 square feet, resulting in a price per square foot of $230. The transaction was facilitated by Gil Neuman from Neuman Commercial Group, representing the seller Atlantic Realty Cos.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $33,500,000
- Address: 250 E Main St, Newark, DE
- Market: Newark, DE
- Square Footage: 145,400
- Price per Square Foot: $230
Gil Neuman from Neuman Commercial Group played a key role as the broker representing Atlantic Realty Cos in this property sale.
Newark 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
0.47%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93