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MDH Partners Acquires Industrial Property In Harrison, OH For $36M

Property Image
SOLD
$36,000,000

Ohio

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Industrial588,166 SF
Sold 08/11/2021
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Property Image
SOLD

MDH Partners Acquires Industrial Property In Harrison, OH For $36M

9555 Dry Fork Road, Harrison, Ohio, USA

See Similar Deals
Industrial588,166 SF
Sold 08/11/2021
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Summary

OHIO
Asset Type:Industrial
Price Per Square Foot:$61
Total Square Footage:588,166 SF
Transaction Type:Sale

The industrial property located at 9555 Dry Fork Road, Harrison, Ohio (Cincinnati MSA) has been sold for a total price of $36,000,000. The property spans a total area of 588,166 square feet, resulting in a price per square foot of $61. This transaction took place on 08/11/2021 in the Harrison, OH market.

Summary of transaction details

The sale of this industrial property was facilitated by the seller's representatives, Sanford Blumenthal and David Lichtenstein from @LightstoneGroup, and the buyer's representatives, Joshua Peck and Susan Annis from GFI Realty Services. This successful transaction demonstrates the strength of the industrial market in Harrison, Ohio.

Players

Joshua "Josh" Peck
13 deals$232M volume
BROKER

Susan Annis
GFI Realty Services
12 deals$225.3M volume
BROKER

David Lichtenstein
Lightstone Group
16 deals$1.4B volume(212) 616-9969
BROKER

David Lichtenstein
Lightstone Group
16 deals$1.4B volume(212) 616-9969
BROKER

MDH Partners
BROKERAGE

Details

SOLD
IMAGE: Susan Annis & Joshua Peck DATE: 08/11/2021 ADDRESS: 9555 Dry Fork Road, Harrison, Ohio (Cincinnati MSA) MARKET: Harrison, OH ASSET TYPE: Industrial SELLER: @LightstoneGroup - Sanford Blumenthal & David Lichtenstein BUYER: MDH Partners - Houston Hawley BUYER'S REP: Joshua Peck & Susan Annis - GFI Realty Services (@GFIRealty) SALE PRICE: $36,000,000 SF: 588,166 ~ PPSF: $61

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,920,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$127,900.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$170,658.37
Annual Debt Service$2,047,900.40