Government Investment Partners Sells Office Building In Hyattsville, MD For $45M
SOLD
$45,000,000
Maryland
See Similar DealsOffice189,000 SF
Sold 06/13/2022
SOLD
Government Investment Partners Sells Office Building In Hyattsville, MD For $45M
3311 Toledo Road, Hyattsville, Maryland 20782, United States
See Similar DealsOffice189,000 SF
Sold 06/13/2022
Summary
MARYLAND
Asset Type:Office
Price Per Square Foot:$238
Total Square Footage:189,000 SF
Transaction Type:Sale
The office property located at 3311 Toledo Rd in Hyattsville, MD has been sold for a total price of $45,000,000. The property spans approximately 189,000 square feet, resulting in a price per square foot of $238. The transaction took place on the date of 06/13/2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $45,000,000
- Address: 3311 Toledo Rd, Hyattsville, MD
- Market: Hyattsville, MD
- Size: 189,000 square feet
- Price per Square Foot: $238
The seller in this transaction was Government Investment Partners. The deal was facilitated by brokers Shaun Weinberg, Eric Berkman, Scott Johnston, and Robert England from Cushman & Wakefield.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,400,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$159,875.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$213,322.96
Annual Debt Service$2,559,875.50
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