Torrington Properties Acquires Retail Property In Newington, NH From Urstadt Biddle Properties Inc. For $13.3M
SOLD
$13,300,000
New Hampshire
See Similar DealsRetail102,000 SF
Sold 08/31/2021
SOLD
Torrington Properties Acquires Retail Property In Newington, NH From Urstadt Biddle Properties Inc. For $13.3M
2026 Woodbury Ave, Newington, NH, USA
See Similar DealsRetail102,000 SF
Sold 08/31/2021
Summary
NEW HAMPSHIRE
Asset Type:Retail
Price Per Square Foot:$130
Total Square Footage:102,000 SF
Transaction Type:Sale
The retail property located at 2026 Woodbury Ave in Newington, NH has been sold. The property, spanning 102,000 square feet and situated on a 15-acre lot, was transacted for a sale price of $13,300,000. This translates to a price per square foot of $130 and a price per acre of $886,667.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $13,300,000
- Address: 2026 Woodbury Ave, Newington, NH
- Square Footage: 102,000
- Price per Square Foot: $130
- Lot Size: 15 acres
- Price per Acre: $886,667
The seller of the property was Urstadt Biddle Properties Inc. The buyer, Torrington Properties, represented by Jay Bisognano, acquired the retail asset.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$709,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$47,252.11
Cash-on-Cash Return-1.27%
Monthly Debt Service$63,048.79
Annual Debt Service$756,585.42
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