Raj Patel Acquires Retail Property From Joe Frio In Hagerstown For $4.15M
761 East Wilson Boulevard
$4,150,000
$79/SF
Building Size
52,000 SF
Asset Type
Retail
Closing
Jan 31, 2024
AI
The retail property located at 761 East Wilson Boulevard in Hagerstown, MD, was recently sold in a transaction on 01/31/2024. The property spans 52,000 square feet and was sold for $4,150,000 at a price per square foot of $80.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,150,000
- Buyer: Raj Patel
- Seller: Joe Frio
- Brokers: Jacob Baruch, Ari Warshaw & Jonah Warshaw - Legacy Realty Group Advisors
Raj Patel acquired the retail property from Joe Frio, with representation from brokers Jacob Baruch, Ari Warshaw, and Jonah Warshaw of Legacy Realty Group Advisors. This transaction highlights the key individuals involved in the deal.
Players
Hagerstown Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.82%
Cash-on-Cash
-1.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93