Updated Dec 4, 2024
Murphy Real Estate Services Acquires Fully Leased Warehouse In Elyria, Ohio For $7.4M
823 Leona Street & 825 Leona Street
$7,400,000
$35/SF
Building Size
103,000 SF
Asset Type
Industrial
Closing
Oct 17, 2023
About this deal
AI
Murphy Real Estate Services has recently acquired a fully leased warehouse located at 823-825 Leona Street in Elyria, Ohio. The property, spanning 10.5 acres, was purchased for a total amount of $7.4 million. This industrial asset boasts a total area of 103,000 square feet, resulting in a price per square foot of $72.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $7,400,000
- Location: 823-825 Leona Street, Elyria, OH
- Market: Elyria, OH
- Total Acres: 10.5 acres
- Buyer: John Murphy - Murphy Real Estate Services
- Buyer's Representative: Mike Petrigan - CBRE
- Square Footage: 103,000
- Price Per Square Foot: $72
In this notable transaction, John Murphy, representing Murphy Real Estate Services, successfully acquired the fully leased warehouse in Elyria, Ohio. The deal was facilitated by Mike Petrigan of CBRE. This acquisition further solidifies Murphy Real Estate Services' presence in the industrial real estate market.
Players
Elyria 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
2.14%
Cash-on-Cash
-0.61%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93