Kooka Properties LLC Acquires Industrial Property In Bethel For $2.3M
$2,300,000
$63/SF
Building Size
36,000 SF
Asset Type
Industrial
Closing
May 14, 2024
AI
The industrial property located at 23530 University Avenue Northwest in Bethel, MN, spanning 4.35 acres, was sold for $2.3 million. The transaction involved a 36,000-square-foot building with office and manufacturing space, at a price of $64 per square foot. The buyer, Kooka Properties LLC, acquired the property from the seller, FabFam LLC.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $2,300,000
- Address: 23530 University Avenue Northwest, Bethel, MN
- Market: Bethel, MN
- Buyer: Kooka Properties LLC
- Seller: FabFam LLC
- Buyer's Rep: Richard Lee - Premier Commercial
- Seller's Rep: Maria Vannelli - Labelle Real Estate Group
Richard Lee from Premier Commercial represented Kooka Properties LLC as the buyer's representative in the deal, while Maria Vannelli from Labelle Real Estate Group represented FabFam LLC as the seller's representative. The sale of the former Chandler Industries plant in Bethel was finalized on 05/14/2024. The property became available after Chandler Industries relocated to a new facility in Blaine.
Players
Market Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93