RAM Cos Acquires Office Building In South Portland For $11.9M
189 Darling Avenue, South Portland, Maine 04106, United States
$11,900,000
$160/SF
Building Size
74,000 SF
Asset Type
Office
Closing
Jan 30, 2022
About this deal
AI
The office building located at 189 Darling Ave in South Portland, ME has been sold in a recent transaction. The property, spanning 74,000 square feet, was purchased by RAM Cos - Howard Goldenfarb for a total sale price of $11,900,000. The price per square foot for this transaction was $161.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $11,900,000
- Square Footage: 74,000
- Address: 189 Darling Ave, South Portland, ME
- Market: South Portland, ME
Jessica Estes & Drew Sigfridson from Boulos Co represented both the buyer, RAM Cos - Howard Goldenfarb, and the seller, 341 Park LLC, in this transaction.
Players
South Portland Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.33%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93