SCG Retail Acquires Retail Property In Syracuse For $3.55M
5640 New York Highway 12
$3,550,000
$25/SF
Building Size
141,402 SF
Asset Type
Retail
Closing
Jul 22, 2022
AI
A retail property located at 5640 NY-12 in Syracuse has been sold for $3,550,000. The property spans 141,402 square feet, resulting in a price per square foot of $25. The transaction took place on July 22, 2022. The buyer, SCG Retail, acquired the property from the seller, Andres Fernandez.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,550,000
- Address: 5640 NY-12
- Market: Syracuse
- Buyer: SCG Retail
- Seller: Andres Fernandez
- Brokers: Jeremy Scheer & Sam Seelenfreund - Cleeman Realty Group
Jeremy Scheer and Sam Seelenfreund from Cleeman Realty Group represented both the buyer, SCG Retail, and the seller, Andres Fernandez, in this transaction.
Players
Norwich Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.47%
Cash-on-Cash
-1.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93