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R.E. Michel Co. Acquires 17.8K SF Warehouse Property In Henderson For $4.7M
SOLD
$4,700,000
Nevada
See Similar DealsIndustrial17,776 SF
Sold 08/16/2023
SOLD
R.E. Michel Co. Acquires 17.8K SF Warehouse Property In Henderson For $4.7M
7440 Commercial Way Henderson, Nevada 89011, USA
See Similar DealsIndustrial17,776 SF
Sold 08/16/2023
Summary
NEVADA
Asset Type:Industrial
Price Per Square Foot:$264
Total Square Footage:17,776 SF
Transaction Type:Sale
The $4.7 million sale of a 17,776-square-foot office and warehouse property in Henderson, Nevada has been arranged by Avison Young. The property, located at 7440 Commercial Way, features office space, high clear heights, and dock-level doors. It was sold by Diamond Mountain Properties to R.E. Michel Co., a wholesale distributor of HVAC/R equipment.
Summary of transaction details:
- Property Type: Industrial
- Sale Price: $4,700,000
- Square Footage: 17,776
- Address: 7440 Commercial Way
- Market: Henderson, Nevada
The sale of the property was facilitated by Joe Leavitt, Chris Lexis, and James Griffis, brokers from Avison Young. R.E. Michel Co., the buyer, is a reputable wholesale distributor of HVAC/R equipment.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$250,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,698.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,280.40
Annual Debt Service$267,364.77
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