Updated May 15, 2025
Real Estate Property Services Acquires Two Commercial Buildings In Wilmington From Michael Procopio For $9.4M
203 Lowell Street
$9,400,000
$896/SF
Building Size
10,488 SF
Asset Type
Commercial
Closing
May 14, 2025
About this deal
AI
The asset involved in this transaction is a commercial property located at 203 Lowell Street, Wilmington. The sale price was $9,400,000 for a total square footage of 10,488, translating to a price per square foot of $896.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $9,400,000
- Buyer: Real Estate Property Services
- Seller: Michael Procopio - Procopio Companies
- Square Footage: 10,488
- Price Per Square Foot: $896
Michael Procopio of Procopio Companies represented the seller in the transaction, facilitating the sale of two commercial buildings to Real Estate Property Services.
On the Map
$9,400,000
$896/SF
Commercial
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Players
Wilmington Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.69%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93