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Marcfirst Sells 19,840 SF Office Building In Normal, Illinois For $1.1M
SOLD
$1,100,000
Illinois
See Similar DealsOffice19,840 SF
Sold 06/28/2023
SOLD
Marcfirst Sells 19,840 SF Office Building In Normal, Illinois For $1.1M
1606 Hunt Drive Normal, Illinois 61761, USA
See Similar DealsOffice19,840 SF
Sold 06/28/2023
Summary
ILLINOIS
Asset Type:Office
Price Per Square Foot:$55
Total Square Footage:19,840 SF
Transaction Type:Sale
An undisclosed buyer has purchased a 19,840-square-foot office building located at 1606 Hunt Drive in Normal, Illinois. The property, previously occupied by Marcfirst, a nonprofit organization, was sold for $1.1 million. The sale was facilitated by AXIS 360 Commercial Real Estate. The buyer plans to renovate the building.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $1,100,000
- Square Footage: 19,840
- Price per Square Foot: $55
- Address: 1606 Hunt Drive, Normal, Illinois
- Market: Normal
The sale of the office building was brokered by Michael O’Neal & Meghan O’Neal-Rogozinski from AXIS 360 Commercial Real Estate. They represented both the seller, Marcfirst, and the undisclosed buyer in the transaction.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$58,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,908.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,214.56
Annual Debt Service$62,574.73
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