Alejandro Velez Acquires Medley Industrial Property For $7.5M
SOLD
$7,500,000
Northwest Territories
See Similar DealsIndustrial50,000 SF
Sold 10/16/2020
SOLD
Alejandro Velez Acquires Medley Industrial Property For $7.5M
9315 Northwest 112 Avenue
See Similar DealsIndustrial50,000 SF
Sold 10/16/2020
Summary
Asset Type:Industrial
Price Per Square Foot:$150
Total Square Footage:50,000 SF
Transaction Type:Sale
A property in Medley has been sold for $7,500,000. Located at 9315 Northwest 112 Avenue, the industrial asset spans 50,000 square feet. The price per square foot comes out to be $152, as per the information available as of October 16, 2020. The transaction was facilitated by CBRE.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $7,500,000
- Square Footage: 50,000
- Price per Square Foot: $152
- Address: 9315 Northwest 112 Avenue
- Market: Medley
The buyer of the property is Alejandro Velez, representing Midtown Capital Partners. On the other hand, the seller is Leo Ghitis. Notably, CBRE acted as the broker for this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$400,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,645.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,553.83
Annual Debt Service$426,645.92
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