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Kris Parker Of Newmark Facilitates $1.6M Sale Of Self Storage Portfolio In Farmington & Canton
SOLD
$1,600,000
Illinois
See Similar DealsSelf Storage35,650 SF
Sold 07/02/2024
SOLD
Kris Parker Of Newmark Facilitates $1.6M Sale Of Self Storage Portfolio In Farmington & Canton
Self Storage35,650 SF
Sold 07/02/2024
Summary
Asset Type:Self Storage
Price Per Square Foot:$44
Total Square Footage:35,650 SF
Transaction Type:Sale
A self-storage portfolio spanning 35,650 square feet in Farmington and Canton, Illinois, was recently sold for $1.6 million. The transaction was facilitated by Kris Parker of Newmark, representing both the seller, Simple Self Storage LLC, and the buyer, Prime Space Storage LLC.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $1,600,000
- Address: Farmington & Canton
- Market: Illinois
- PPSF: $45
Kris Parker from Newmark played a crucial role as the broker in the deal, ensuring a successful transaction for both parties involved in the sale of the self-storage portfolio.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$85,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,684.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,584.82
Annual Debt Service$91,017.80
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