Nu Partners Acquires Multifamily Property On Parkway Avenue For $5.35M
SOLD
$5,350,000
North Carolina
See Similar DealsMultiFamily44,000 SF
Sold 11/17/2022
SOLD
Nu Partners Acquires Multifamily Property On Parkway Avenue For $5.35M
3001 Parkway Ave, Charlotte, NC 28208, USA
See Similar DealsMultiFamily44,000 SF
Sold 11/17/2022
Summary
NORTH CAROLINA
Asset Type:MultiFamily
Price Per Square Foot:$121
Total Square Footage:44,000 SF
Transaction Type:Sale
The multifamily property located at 3001 Parkway Avenue in Charlotte, NC has been sold in a closed transaction. The property spans 44,000 square feet and was sold for a price of $5,350,000, resulting in a price per square foot of $122.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,350,000
- Address: 3001 Parkway Avenue, Charlotte, NC
- Market: Charlotte, NC
- Buyer: Nu Partners
- Seller: Lucern Capital Partners - Frank Forte, Mark Callazzo & David Hansel
- Broker: Ron Corrao - Capstone Companies
- Square Footage: 44,000
- Price per Square Foot: $122
The buyer of the property is Nu Partners, while the seller is Lucern Capital Partners, represented by Frank Forte, Mark Callazzo, and David Hansel. The transaction was facilitated by Ron Corrao from Capstone Companies.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$285,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,007.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,361.73
Annual Debt Service$304,340.75
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