Richard Hansen's McColly Rosenboom Acquires Herscher Development Site For $1.46M
SOLD
$1,463,444
Massachusetts
See Similar DealsDevelopment Site6,751,800 SF
Sold 02/01/2021
SOLD
Richard Hansen's McColly Rosenboom Acquires Herscher Development Site For $1.46M
Sec. 31 W Twp 14 Pilot, Herscher, IL
See Similar DealsDevelopment Site6,751,800 SF
Sold 02/01/2021
Summary
MASSACHUSETTS
Asset Type:Development Site
Price Per Square Foot:$0
Total Square Footage:6,751,800 SF
Transaction Type:Sale
A development site in Herscher, located at Sec. 31 W Twp 14 Pilot, has been sold for $1,463,444. The property spans across 155 acres, resulting in a price per acre of $9,442. Richard Hansen of McColly Rosenboom represented the transaction as the broker.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,463,444
- Address: Sec. 31 W Twp 14 Pilot
- Market: Herscher
- Acres: 155
- Price Per Acre: $9,442
Richard Hansen, a representative from McColly Rosenboom, facilitated the sale of the development site in Herscher.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$78,050.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,199.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,937.47
Annual Debt Service$83,249.65
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