Updated Oct 28, 2024
Merritt Properties Acquires 22 Acre Industrial Property In Garner, NC For $2.9M
6100 North Carolina Highway 42, Garner, North Carolina 27529, United States
$2,900,000
Building Size
—
Asset Type
Industrial
Closing
Jul 18, 2022
About this deal
AI
The industrial property located at 6100 NC Hwy 42 in Garner, NC has been sold. The property spans across 22 acres, providing ample space for industrial activities. The transaction took place on July 19, 2022.
Summary of transaction details
- Property Type: Industrial
- Sale Price: $2,900,000
- Address: 6100 NC Hwy 42, Garner, NC
- Market: Garner, NC
- Buyer: Merritt Properties
- Broker: Karah McConnell - Lee & Associates
Merritt Properties successfully acquired the industrial property, facilitated by Karah McConnell from Lee & Associates who represented Merritt Properties in the deal. This transaction marks a significant investment for Merritt Properties in the industrial market in Garner, NC.
On the Map
$2,900,000
Industrial
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Garner Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.47%
Cash-on-Cash
-1.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93