Updated Oct 28, 2024
Auslander Capital Acquires Multifamily Property In Kannapolis, NC For $2.6M
1450 Nottingham Rd, Kannapolis, North Carolina 28081, United States
$2,565,000
$85/SF
Building Size
30,000 SF
Asset Type
MultiFamily
Closing
Oct 31, 2022
About this deal
AI
An undisclosed multifamily property located at 4122-1450 Nottingham Road and 1460-1499 Sherwood Drive in Kannapolis, NC, has been sold for a total price of $2,565,000. The property spans across approximately 30,000 square feet, resulting in a price per square foot of $86.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,565,000
Auslander Capital has acquired the property.
The sale was facilitated by Samuel Finkler, Audley Clarke, and Andrew Hyans from TrueRate acting as the brokers representing the buyer in the deal.
On the Map
$2,565,000
$85/SF
MultiFamily
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Players
Kannapolis MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.18%
Cash-on-Cash
-1.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93