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

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SOLD
$7,200,000

Maryland

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SOLD

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

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Summary

MARYLAND
Asset Type:Office
Transaction Type:Sale

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
11 deals$131M volume(202) 587-9610
BROKER

Joshua Norwitz
KLNB
8 deals$96.6M volume(202) 587-9613
BROKER

Details

SOLD
IMAGE: Joe Friedman & Joshua Norwitz DATE: 09/02/2022 ADDRESS: 154 N Market Street & 8 E 2nd Street MARKET: Frederick, MD ASSET TYPE: Office & Vacant Land SELLER: MP Fund I North Market, LLC BROKERS: Joe Friedman & Joshua Norwitz - Edge Capital Markets SALE PRICE: $7,200,000

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

$384,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$25,580.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,131.67
Annual Debt Service$409,580.08