Updated Dec 4, 2024
Matthews Real Estate Investment Services Completes $11.52M Industrial Sale In Solon, OH
30701 Carter Street
$11,520,000
$34/SF
Building Size
337,000 SF
Asset Type
Industrial
Closing
Jan 10, 2024
About this deal
AI
Matthews Real Estate Investment Services has completed the $11.52 million sale of 30701 Carter Street in Solon, Ohio. The property is the largest owner-occupier industrial transaction in the Cleveland market in 2023 by square footage. The industrial asset spans 337,000 square feet and is located in Solon, OH. The sale price amounted to $34 per square foot.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $11,520,000
- Address: 30701 Carter Street
- Market: Solon, OH
- Buyer: John Labarbera - Mytee Products
- Broker: Matt Kovesdy - Matthews Real Estate Investment Services
This transaction was facilitated by Matt Kovesdy from Matthews Real Estate Investment Services. John Labarbera, representing Mytee Products, was the buyer in this deal.
Players
Solon Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.38%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93