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Alterra Property Group Acquires Industrial Property In South Central Suffolk County For $4.6M

Property Image
SOLD
$4,600,000
John Giannuzzi
Thomas (Tom) DeLuca
Nicholas (Nick) Gallipoli
+ 1

New York

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Industrial16,000 SF
Sold 09/02/2021
the dealplayerscompscontact
Property Image
SOLD

Alterra Property Group Acquires Industrial Property In South Central Suffolk County For $4.6M

93 Sills Gully Road, Shoreham, Suffolk County, NY, USA

See Similar Deals
Industrial16,000 SF
Sold 09/02/2021
John Giannuzzi
Thomas (Tom) DeLuca
Nicholas (Nick) Gallipoli
+ 1
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$287
Total Square Footage:16,000 SF
Transaction Type:Sale

An industrial property located at 93 Sills Road in South Central Suffolk County was recently sold in a single tenant NNN lease investment sale. The property, zoned as L1, spans 16,000 square feet and was sold for a total of $4,600,000. The sale price equates to a per square foot value of $287. Alterra Property Group acquired the property.

Summary of transaction details

  • Property Type: Industrial - Single Tenant NNN Lease Investment Sale
  • Transaction Amount: $4,600,000
  • Address: 93 Sills Road
  • Market: South Central Suffolk County
  • Zoning: L1

The deal was facilitated by Cushman & Wakefield, with Thomas DeLuca, Frank Frizalone, Nicholas Gallipoli, and John Giannuzzi representing the buyer, Alterra Property Group.

Players

Thomas (Tom) DeLuca
Cushman & Wakefield
Thomas DeLuca
14 deals$123.7M volume
BROKER
Frank Frizalone
Cushman & Wakefield
Frank Frizalone
10 deals$94.4M volume
BROKER
Nicholas (Nick) Gallipoli
Cushman & Wakefield
Nicholas Gallipoli
16 deals$163.5M volume
BROKER
John Giannuzzi
Cushman & Wakefield
John Giannuzzi
10 deals$54.2M volume
BROKER
Alterra Property Group
Alterra Property Group
BUYER

Details

SOLD
IMAGE: Nicholas Gallipoli, Frank Frizalone, Thomas Deluca & John Giannuzzi DATE: 09/02/2021 ADDRESS: 93 Sills Road MARKET: South Central Suffolk County ASSET TYPE: Industrial - Single Tenant NNN Lease Investment Sale ~ ZONING: L1 BUYER: Alterra Property Group BROKERS: Thomas DeLuca, Frank Frizalone (@FrankFrizalone), Nicholas Gallipoli & John Giannuzzi - Cushman & Wakefield SALE PRICE: $4,600,000 SF: 16,000 ~ PPSF: $287

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Operating Income
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$16,342.84
Cash-on-Cash Return-1.27%
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