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Convexity Properties Acquires Office Building On West Morgan Street In Raleigh, NC For $9.1M
SOLD
$9,100,000
North Carolina
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Sold 06/15/2023
SOLD
Convexity Properties Acquires Office Building On West Morgan Street In Raleigh, NC For $9.1M
200 West Morgan Street Raleigh, North Carolina 27601, USA
See Similar DealsOffice
Sold 06/15/2023
Summary
NORTH CAROLINA
Asset Type:Office
Transaction Type:Sale
The office property located at 200 West Morgan Street in Raleigh, NC has been sold. The transaction took place on 06/15/2023, with Convexity Properties purchasing the asset from the Episcopal Diocese for a price of $9,100,000.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $9,100,000
- Address: 200 West Morgan Street
- Market: Raleigh, NC
Teddy Hobbs, Alexis Kaiser & Hunter Barron from JLL represented the buyer, Convexity Properties, in this sale transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$485,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$32,330.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$43,138.64
Annual Debt Service$517,663.71
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