Updated Dec 4, 2024
Kris Parker Of Newmark Facilitates $1.6M Sale Of Self Storage Portfolio In Farmington & Canton
$1,600,000
$44/SF
Building Size
35,650 SF
Asset Type
Self Storage
Closing
Jul 2, 2024
About this deal
AI
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.
Players
Market Self Storage Market Snapshot
Boundary boundary · Self Storage · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.91%
Cash-on-Cash
-2.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93