RC Commerce Inc Acquires Industrial Property In Suffolk County For $5.18M
SOLD
$5,180,000
New York
See Similar DealsMultiFamily20,000 SF
Sold 11/18/2022
SOLD
RC Commerce Inc Acquires Industrial Property In Suffolk County For $5.18M
601 Acorn St, Deer Park, NY 11729, USA
See Similar DealsMultiFamily20,000 SF
Sold 11/18/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$259
Total Square Footage:20,000 SF
Transaction Type:Sale
The industrial property located at 601 Acorn Street in Suffolk County was recently sold. The transaction was facilitated by Desmond Mullins of Industry One Realty Corp.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $5,180,000
- Square Footage: 20,000
- Price per Square Foot: $259
- Address: 601 Acorn Street
- Market: Suffolk County
- Buyer: RC Commerce Inc - Kevin & Nancy Chu
- Seller: Bay Holdings - Owen Murtagh
- Broker: Desmond Mullins - Industry One Realty Corp
RC Commerce Inc, represented by Kevin & Nancy Chu, purchased the industrial property from Bay Holdings, with the transaction being brokered by Desmond Mullins. The property spans 20,000 square feet, with a sale price of $5,180,000, translating to a price per square foot of $259.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$276,266.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,403.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,555.84
Annual Debt Service$294,670.11
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