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Capital Properties, LLC Acquires 151.5K SF Industrial Portfolio In Portland, Auburn & Bangor, ME For $14.55M

Property Image
SOLD
$14,550,000
Brandon Mitchell
TC Haffenreffer
Sylas Hatch

Maine

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Industrial757,350 SF
Sold 11/09/2023
the dealplayerscompscontact
Property Image
SOLD

Capital Properties, LLC Acquires 151.5K SF Industrial Portfolio In Portland, Auburn & Bangor, ME For $14.55M

392 Warren Avenue, 420 Warren Avenue, 80 Kittyhawk Avenue, 37 Godsoe Road & 400 Warren Avenue

See Similar Deals
Industrial757,350 SF
Sold 11/09/2023
Brandon Mitchell
TC Haffenreffer
Sylas Hatch
the dealplayerscompscontact
Contact now

Summary

MAINE
Asset Type:Industrial
Price Per Square Foot:$19
Total Square Footage:757,350 SF
Transaction Type:Sale

The $14.55 million sale of a five-building industrial portfolio in Portland, Auburn, and Bangor, ME has been facilitated by Malone Commercial Brokers. The portfolio, totaling 151,470 square feet, was acquired by Capital Properties, LLC.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $14,550,000
  • Address: 392, 400 & 420 Warren Avenue, 80 Kittyhawk Avenue & 37 Godsoe Road
  • Market: Portland, Auburn & Bangor, ME
  • Buyer: Capital Properties, LLC
  • Buyer's Representative: Brandon Mitchell - Malone Commercial Brokers
  • Seller's Representatives: Sylas Hatch & TC Haffenreffer - The Dunham Group

Malone Commercial Brokers played a key role in the successful acquisition of this industrial portfolio by Capital Properties, LLC. The five-building portfolio offers a total of 151,470 square feet of space and was sold for $14.55 million.

Players

TC Haffenreffer
The Dunham Group
TC Haffenreffer
3 deals$31.6M volume
BROKER
Sylas Hatch
The Dunham Group
Sylas Hatch
2 deals$18.6M volume
BROKER
Brandon Mitchell
Malone Commercial Brokers
Brandon Mitchell
3 deals$20.4M volume
BROKER
CL
C&S Capital Properties LLC
BUYER

Details

SOLD
IMAGE: Brandon Mitchell, Sylas Hatch & TC Haffenreffer DATE: 11/09/2023 ADDRESS: 392, 400 & 420 Warren Avenue, 80 Kittyhawk Avenue & 37 Godsoe Road MARKET: Portland, Auburn & Bangor, ME ASSET TYPE: Industrial BUYER: Capital Properties, LLC BUYER'S REP: Brandon Mitchell - Malone Commercial Brokers SELLER'S REP: Sylas Hatch & TC Haffenreffer - The Dunham Group SALE PRICE: $14,550,000 SF: 151,470 ~ PPSF: $96 NOTE: Malone Commercial Brokers facilitated the $14.55 million sale of a five-building industrial portfolio, totaling 151,470 square feet, to Capital Properties, LLC.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$775,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$51,693.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$68,974.42
Annual Debt Service$827,693.08