Updated Oct 29, 2024
Industrial Re-Development In Vinegar Hill Sells For $1.85M By The Rose Family Trust Through Derek Bestreich, Luke Sproviero, Adam Lobel & Toby Waring - Investment Property Realty Group
304 Water Street
$1,850,000
$500/SF
Building Size
3,700 SF
Asset Type
Industrial
Closing
Jan 3, 2023
About this deal
AI
The industrial property located at 304 Water Street in Vinegar Hill has been sold in a recent transaction. The property, which is designated for re-development, was purchased for a total sale price of $1,850,000. The property spans 3,700 square feet, and the price per square foot is $500. The sale included 2 units, with an average price per unit of $925,000.
Summary of transation details
- Property Type: Industrial Re-Development
- Transaction Amount: $1,850,000
- Square Footage: 3,700 square feet
- Price Per Square Foot: $500
- Number of Units: 2
- Price Per Unit: $925,000
The Rose Family Trust served as the seller in this transaction. Investment Property Realty Group (IPRG), represented by Derek Bestreich, Luke Sproviero, Adam Lobel, and Toby Waring, acted as the brokers facilitating the sale.
Players
Vinegar Hill 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
8.57%
Cash-on-Cash
-2.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93