Merritt Properties Acquires 22 Acre Industrial Property In Garner, NC For $2.9M
SOLD
$2,900,000
North Carolina
See Similar DealsIndustrial
Sold 07/19/2022
SOLD
Merritt Properties Acquires 22 Acre Industrial Property In Garner, NC For $2.9M
6100 North Carolina Highway 42, Garner, North Carolina 27529, United States
See Similar DealsIndustrial
Sold 07/19/2022
Summary
NORTH CAROLINA
Asset Type:Industrial
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$154,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,303.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,747.48
Annual Debt Service$164,969.75
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