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Realty Income Properties Acquires Lakeville Industrial Building For $9.5M From Dewitt Clinton LLC
SOLD
$9,500,000
Minnesota
See Similar DealsIndustrial121,864 SF
Sold 02/01/2024
SOLD
Realty Income Properties Acquires Lakeville Industrial Building For $9.5M From Dewitt Clinton LLC
8860 207th Street West
See Similar DealsIndustrial121,864 SF
Sold 02/01/2024
Summary
MINNESOTA
Asset Type:Industrial
Price Per Square Foot:$78
Total Square Footage:121,864 SF
Transaction Type:Sale
The Lakeville industrial building, situated at 8860 207th St. W., with an area of 121,864 square feet, was successfully acquired by Realty Income Properties from Dewitt Clinton LLC for $9.5 million. This property transaction took place in Lakeville, MN, within an 8.07-acre industrial asset.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $9,500,000
- SF: 121,864
- PPSF: $78
- Address: 8860 207th Street West
- Market: Lakeville, MN
The brokerage representation in this deal was provided by Bentley Smith & Judd Welliver from CBRE.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$506,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$33,751.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,034.85
Annual Debt Service$540,418.16
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