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Dr. Vaibhav Patel Of Patient Care Pharmacy Acquires Office At 2045 West Street For $4.8M
SOLD
$4,800,000
Maryland
See Similar DealsOffice
Sold 05/15/2025
SOLD
Dr. Vaibhav Patel Of Patient Care Pharmacy Acquires Office At 2045 West Street For $4.8M
2045 West Street
See Similar DealsOffice
Sold 05/15/2025
Summary
MARYLAND
Asset Type:Office
Transaction Type:Sale
The property asset involved in the transaction is an office located at 2045 West Street, Annapolis, MD. The sale price for the property was $4,800,000. This property represents the second of four parcels in the Knighton at Annapolis Towne Centre portfolio.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $4,800,000
- Buyer: Dr. Vaibhav Patel
- Seller: Golden Gateway Enterprises
- Buyer’s Business: Patient Care Pharmacy
- Brokers: John Sindler & Justin Mullen - Hyatt Commercial
The transaction was facilitated by brokers John Sindler and Justin Mullen from Hyatt Commercial. Dr. Vaibhav Patel will continue business operations at the site and is also considering leasing options for other buildings in the overall property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$256,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,053.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,754.45
Annual Debt Service$273,053.39
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