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Northridge Capital Sells Office Building On West Morehead Street In Charlotte For $19.2M With Brokers Jared Londry & Alex Olofson

Property Image
SOLD
$19,200,000
Jared Londry
Alex Olofson

North Carolina

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Office
Sold 05/26/2023
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Property Image
SOLD

Northridge Capital Sells Office Building On West Morehead Street In Charlotte For $19.2M With Brokers Jared Londry & Alex Olofson

1435 West Morehead Street Charlotte, North Carolina 28208, USA

See Similar Deals
Office
Sold 05/26/2023
Jared Londry
Alex Olofson
the dealplayerscompscontact
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Summary

NORTH CAROLINA
Asset Type:Office
Transaction Type:Sale

The office property located at 1435 West Morehead Street in Charlotte, NC has been sold for $19,200,000. The transaction was completed by Northridge Capital, a real estate investment firm. The property is situated in a prime location in the Charlotte market.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $19,200,000
  • Seller: Northridge Capital
  • Brokers: Alex Olofson - Stream Realty Partners, Jared Londry - PointBlank Ventures

Alex Olofson from Stream Realty Partners and Jared Londry from PointBlank Ventures represented the seller in this deal. Together, they successfully facilitated the transaction and ensured a smooth process for all parties involved.

Players

Jared Londry
Stream Realty Partners⁠
Jared Londry
3 deals$55.7M volume
BROKER
Alex Olofson
Stream Realty Partners⁠
Alex Olofson
3 deals$55.8M volume
BROKER
NC
Northridge Capital
SELLER

Details

SOLD
IMAGE: Jared Londry & Alex Olofson DATE: 05/26/2023 ADDRESS: 1435 West Morehead Street MARKET: Charlotte, NC ASSET TYPE: Office SELLER: Northridge Capital BROKERS: Alex Olofson - Stream Realty Partners & Jared Londry - PointBlank Ventures SALE PRICE: $19,200,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,024,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$68,213.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$91,017.80
Annual Debt Service$1,092,213.54