Updated Oct 29, 2024
Elliot Sohayegh Contracts To Purchase 1.75M Sq Ft Industrial Warehouse Space Out Of State
Building Size
1,750,000 SF
Asset Type
Industrial
Closing
Aug 14, 2023
About this deal
AI
Elliot Sohayegh is in contract to purchase approximately 1.75 million square feet of warehouse space located outside of New York. The industrial complex is situated on a 143-acre property that is 13 miles from the border of Virginia and North Carolina. It is conveniently located near Roanoke Commercial Airport and Blue Ridge Regional Airport, and is positioned between US Route 220, State Route 57, and a commercial railway train.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: Under $18 per square foot
- Annual Real Estate Tax: Less than $20,000
- Market: Out of state
- Square Footage: 1,750,000
If anyone is interested in selling, purchasing, or leasing warehouse space, they can contact Elliot Sohayegh at (516) 637-5381.
Market 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93