Michael Falcone & Vincent Falcone Acquire Retail Property In Hockessin, DE From SWA Remainder - Alic Kelso For $4.6M
605 Yorklyn Road, Hockessin, Delaware
$4,583,333
$65/SF
Building Size
69,900 SF
Asset Type
Retail
Closing
Sep 21, 2023
About this deal
AI
605 Yorklyn Road, a retail property located in Hockessin, DE, was recently sold for a transaction price of $4,583,333. The property spans an area of 69,900 square feet, resulting in a price per square foot of $66. The sale of this asset was facilitated by Gary Rosen of Rosen Law LLC, who acted as the attorney in the transaction.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,583,333
- Address: 605 Yorklyn Road, Hockessin, DE
- Square Footage: 69,900
- Price per Square Foot: $66
The buyers of the property were Michael Falcone and Vincent Falcone, while the seller was SWA Remainder - Alic Kelso. Gary Rosen, Esq., from Rosen Law LLC, played a crucial role as the attorney representing the parties involved in the transaction.
Players
Hockessin 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
3.46%
Cash-on-Cash
-0.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93