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Seawall Development Acquires Industrial Property On Sisson Street In Baltimore For $5M

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SOLD
$5,000,000

Maryland

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Industrial
Sold 04/01/2023
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Property Image
SOLD

Seawall Development Acquires Industrial Property On Sisson Street In Baltimore For $5M

2600 Sisson Street, Baltimore, Maryland 21211, United States

See Similar Deals
Industrial
Sold 04/01/2023
Contact now

Summary

MARYLAND
Asset Type:Industrial
Transaction Type:Sale

The recent sale of an industrial property in Baltimore, MD has caught the attention of the real estate market. Located at 2600 Sisson Street, this property spans across a generous 3.5 acres. The transaction, facilitated by MacKenzie Commercial Real Estate Services, resulted in a sale price of $5,000,000. Seawall Development acquired the property from Sisson Trans LLC in this successful deal.

Summary of Transation Details

  • Property Type: Industrial
  • Transaction Amount: $5,000,000
  • Address: 2600 Sisson Street, Baltimore, MD
  • Market: Baltimore, MD
  • Buyer: Seawall Development
  • Seller: Sisson Trans LLC
  • Brokers: Daniel Hudak, Owen Rouse, and Andrew Meeder - MacKenzie Commercial Real Estate Services
  • Acres: 3.5

This transaction showcases the strong demand for industrial properties in Baltimore, MD. Seawall Development, represented by Daniel Hudak, Owen Rouse, and Andrew Meeder of MacKenzie Commercial Real Estate Services, made a strategic move by acquiring this sizable property. The location of 2600 Sisson Street provides ample space and opportunities for industrial operations.

Players

Owen Rouse
5 deals$31.8M volume
BROKER

Andrew Meeder
MacKenzie Commercial Real Estate Services
18 deals$72.8M volume
BROKER

Daniel Hudak
MacKenzie Commercial Real Estate Services
12 deals$49M volume
BROKER

Details

SOLD
IMAGE: Daniel Hudak, Owen Rouse & Andrew Meeder DATE: 01/04/2023 ADDRESS: 2600 Sisson Street MARKET: Baltimore, MD ASSET TYPE: Industrial ~ ACRES: 3.5 BUYER: Seawall Development SELLER: Sisson Trans LLC BROKERS: Daniel Hudak, Owen Rouse & Andrew Meeder - MacKenzie Commercial Real Estate Services SALE PRICE: $5,000,000

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

$266,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61