Progress Realty Partners Acquires Retail Property In Buffalo For $16.2M
SOLD
$16,200,000
+ 2
New York
See Similar DealsRetail150,000 SF
Sold 07/06/2023
SOLD
Progress Realty Partners Acquires Retail Property In Buffalo For $16.2M
5175 Broadway Depew, NY 14043, USA
See Similar DealsRetail150,000 SF
Sold 07/06/2023
+ 2
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$108
Total Square Footage:150,000 SF
Transaction Type:Sale
A retail property located at 5175 Broadway in Buffalo has been sold for a total price of $16,200,000. The property spans 150,000 square feet, resulting in a price per square foot of $108.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $16,200,000
- Street Address: 5175 Broadway
- Market: Buffalo
The buyers of the retail property were Adam Dickert, Dan Salonis, and Kathy Anderson from Progress Realty Partners. Representing the buyers in the deal were brokers Frank DiTommaso and Max Helfman from Cushman & Wakefield, along with Bill Colucci from Pyramid Brokerage. These individuals played key roles in facilitating the transaction.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$864,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$57,555.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$76,796.26
Annual Debt Service$921,555.18
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