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154 North Market Street, Fr...

MP Fund I North Market, LLC Sells Office & Vacant Land In Frederick, MD For $7.2M
SOLDOffice

MP Fund I North Market, LLC Sells Office & Vacant Land In Frederick, MD For $7.2M

154 North Market Street, Frederick, Maryland 21701, United States

$7,200,000

Building Size

Asset Type

Office

Closing

Sep 1, 2022

AI

The property involved in this closed transaction is located at 154 N Market Street and 8 E 2nd Street in Frederick, MD. It consists of an office building and vacant land. The sale of the property was facilitated by Joe Friedman and Joshua Norwitz from Edge Capital Markets, representing the seller MP Fund I North Market, LLC. The transaction was completed for a sale price of $7,200,000.

Summary of transaction details:

  • Property Type: Office & Vacant Land
  • Transaction Amount: $7,200,000
  • Address: 154 N Market Street & 8 E 2nd Street, Frederick, MD
  • Market: Frederick, MD
  • Seller: MP Fund I North Market, LLC
  • Brokers: Joe Friedman & Joshua Norwitz - Edge Capital Markets

The deal's key individuals involved in the transaction were Joe Friedman and Joshua Norwitz from Edge Capital Markets, who represented the seller MP Fund I North Market, LLC. Their expertise and negotiation skills were instrumental in successfully closing the sale of the property.

Players

Joe Friedman

KLNB

Broker

$131M

vol

11 deals

Broker

Frederick 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

2.20%

Cash-on-Cash

-0.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93