Goodwin & Assoc. Real Estate LLC Sells Development Site In Cortland, IL For $4.6M
SOLD
$4,562,775
Illinois
See Similar DealsDevelopment Site14,701,500 SF
Sold 05/03/2021
SOLD
Goodwin & Assoc. Real Estate LLC Sells Development Site In Cortland, IL For $4.6M
19827 Airport Rd, Cortland, Illinois, USA
See Similar DealsDevelopment Site14,701,500 SF
Sold 05/03/2021
Summary
ILLINOIS
Asset Type:Development Site
Price Per Square Foot:$0
Total Square Footage:14,701,500 SF
Transaction Type:Sale
A development site located at 19827 Airport Rd in Cortland, IL has been sold for $4,562,775. The property spans across 337.50 acres, resulting in a price per acre (PPA) of $13,519. Mark Goodwin of Goodwin & Assoc. Real Estate LLC represented the broker in this transaction.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $4,562,775
- Address: 19827 Airport Rd, Cortland, IL
- Market: Cortland, IL
- Acres: 337.50
- Price per Acre (PPA): $13,519
The deal was facilitated by Mark Goodwin, an agent from Goodwin & Assoc. Real Estate LLC. The transaction marks the successful sale of the development site, demonstrating the expertise of the involved parties in the real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$243,348.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,210.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,629.88
Annual Debt Service$259,558.58
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