NetstReit Acquires Retail Property In Buffalo For $9M
SOLD
$9,000,000
New York
See Similar DealsRetail51,000 SF
Sold 06/15/2022
SOLD
NetstReit Acquires Retail Property In Buffalo For $9M
890 Young St,Buffalo,New York
See Similar DealsRetail51,000 SF
Sold 06/15/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$176
Total Square Footage:51,000 SF
Transaction Type:Sale
A retail property located at 890 Young St. in Buffalo has been sold. The property, measuring approximately 51,000 square feet, was sold for $9,000,000. The price per square foot is estimated to be $176.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,000,000
- Address: 890 Young St.
- Market: Buffalo
- Square Footage: 51,000
NETSTREIT was the buyer of the property, while SCG Retail served as the seller. The deal was facilitated by Sam Seelenfreund from Cleeman Realty Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$480,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10
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