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
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