TriGate Capital Sells Raleigh Office For $17.25M
SOLD
$17,250,000
North Carolina
See Similar DealsOffice72 SF
Sold 11/29/2022
SOLD
TriGate Capital Sells Raleigh Office For $17.25M
900 Ridgefield Drive, Raleigh, North Carolina 27609, United States
See Similar DealsOffice72 SF
Sold 11/29/2022
Summary
NORTH CAROLINA
Asset Type:Office
Price Per Square Foot:$239,583
Total Square Footage:72 SF
Transaction Type:Sale
The office property located at 900 Ridgefield Drive in Raleigh, N.C has been sold for a transaction amount of $17,250,000. The property spans across 72,218 square feet and was sold at an average price of $239 per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $17,250,000
- Square Footage: 72,218
- Price Per Square Foot: $239
- Market: Raleigh, N.C
The sale was facilitated by TriGate Capital, acting as the seller's representative in the transaction.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$919,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$61,285.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$81,773.80
Annual Debt Service$981,285.61
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