MRM Bangor LLC Acquires Office Building In Bangor, ME For $4.05M
SOLD
$4,050,000
Maine
See Similar DealsOffice40,200 SF
Sold 02/07/2022
SOLD
MRM Bangor LLC Acquires Office Building In Bangor, ME For $4.05M
1 Cumberland Place, Bangor, Maine 04401, United States
See Similar DealsOffice40,200 SF
Sold 02/07/2022
Summary
MAINE
Asset Type:Office
Price Per Square Foot:$100
Total Square Footage:40,200 SF
Transaction Type:Sale
MRM Bangor LLC has purchased an office property located at 1 Cumberland Place in Bangor, ME. The transaction was facilitated by brokers TC Haffenreffer and Sylas Hatch of Dunham Group. The sale price for the property was $4,050,000, with a total square footage of 40,200. The price per square foot was calculated at $101.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $4,050,000
- Address: 1 Cumberland Place, Bangor, ME
- Market: Bangor, ME
TC Haffenreffer and Sylas Hatch from Dunham Group represented the buyer, MRM Bangor LLC, and One Cumberland Place LLC acted as the seller in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$216,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,388.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,199.07
Annual Debt Service$230,388.79
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