SCG Retail Sells Cortland Retail Property For $12.2M With Brokers Cleeman Realty Group
SOLD
$12,200,000
New York
See Similar DealsRetail77,000 SF
Sold 08/17/2023
SOLD
SCG Retail Sells Cortland Retail Property For $12.2M With Brokers Cleeman Realty Group
3932 NY-281 Cortland, NY 13045, USA
See Similar DealsRetail77,000 SF
Sold 08/17/2023
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$158
Total Square Footage:77,000 SF
Transaction Type:Sale
A retail property located at 3932 Ny-281 in Cortland has been sold for a total price of $12,200,000. The property consists of approximately 77,000 square feet, resulting in a price per square foot of $158. The seller of the property was SCG Retail.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $12,200,000
- Address: 3932 Ny-281, Cortland
The transaction was facilitated by Cleeman Realty Group, represented by brokers Michael Cleeman and Samuel Seelenfreund. They played a key role in finalizing the deal between SCG Retail and the buyer of the property.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$650,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$43,344.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$57,834.22
Annual Debt Service$694,010.69
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