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Time Equities, Inc Acquires 55,000-Square-Foot Industrial Warehouse In Indianapolis For $3.275M
SOLD
$3,275,000
+ 2
Indiana
See Similar DealsIndustrial55,000 SF
Sold 01/25/2024
SOLD
Time Equities, Inc Acquires 55,000-Square-Foot Industrial Warehouse In Indianapolis For $3.275M
1840 Midwest Boulevard
See Similar DealsIndustrial55,000 SF
Sold 01/25/2024
+ 2
Summary
INDIANA
Asset Type:Industrial
Price Per Square Foot:$59
Total Square Footage:55,000 SF
Transaction Type:Sale
Time Equities, Inc. has acquired a 55,000-square-foot industrial warehouse located at 1840 Midwest Boulevard in Indianapolis, Indiana. The property, which was sold for $3.275 million, is 94 percent leased and is anchored by R&R Plumbing, a Berkshire Hathaway affiliate.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,275,000
- Size: 55,000 square feet
- Price per Square Foot: $60
- Address: 1840 Midwest Boulevard, Indianapolis, IN
- Market: Indianapolis, IN
The acquisition was facilitated by Brian Dell, Ryan Kelly, and Tony Hupp from Colliers International, who acted as brokers in the transaction representing Max Pastor and Brian Soto from Time Equities, Inc.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$174,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,635.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,525.17
Annual Debt Service$186,302.05
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