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Elliot Sohayegh is under co...

Elliot Sohayegh Contracts To Purchase 1.75M Sq Ft Industrial Warehouse Space Out Of State
SOLDIndustrial

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

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.

Players

Elliot Sohayegh

Buyer

$66.5M

vol

10 deals

Buyer

Okeana 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