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David W. Schostak Of Schostak Brothers Acquires Industrial Building In Sanford For $5M
SOLD
$5,000,000
North Carolina
See Similar DealsIndustrial91,366 SF
Sold
SOLD
David W. Schostak Of Schostak Brothers Acquires Industrial Building In Sanford For $5M
2613 Lee Avenue
See Similar DealsIndustrial91,366 SF
Sold
Summary
NORTH CAROLINA
Asset Type:Industrial
Price Per Square Foot:$54
Total Square Footage:91366 SF
Transaction Type:Sale
2613 Lee Avenue is an industrial building located in Sanford, NC, which has been sold for $5,000,000. The property encompasses a total area of 91,366 square feet, translating to a price per square foot of $55. A notable aspect of this transaction is that approximately 60,000 square feet of the property is available for lease.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $5,000,000
- Address: 2613 Lee Avenue
- Market: Sanford, NC
- Square Footage: 91,366
- Price Per Square Foot: $55
- Buyer: David W. Schostak
- Company: Schostak Brothers
David W. Schostak, representing Schostak Brothers, executed this transaction as the firm's first acquisition in North Carolina, expanding their investment portfolio into a new market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61
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