Medical Office In Akron, Ohio Sells For $8M With Brokers Ben Whitney & Greg Trainor - Fairfield Advisors
SOLD
$8,000,000
Office26,500 SF
Sold 11/01/2021
SOLD
Medical Office In Akron, Ohio Sells For $8M With Brokers Ben Whitney & Greg Trainor - Fairfield Advisors
444 North Main Street, Akron, Ohio, USA
See Similar DealsOffice26,500 SF
Sold 11/01/2021
Summary
OHIO
Asset Type:Office
Price Per Square Foot:$301
Total Square Footage:26,500 SF
Transaction Type:Sale
A medical office building located at 444 North Main Street in Akron, Ohio has been sold. The property encompasses approximately 26,500 square feet and was sold for a total price of $8,000,000. The transaction took place on November 1, 2021. The sale price equates to a price per square foot of $302.
Summary of transaction details
- Property Type: Medical Office
- Transaction Amount: $8,000,000
- Address: 444 North Main Street, Akron, Ohio
- Market: Akron, Ohio
- BROKERS: Ben Whitney & Greg Trainor - Fairfield Advisors
The sale was facilitated by Ben Whitney and Greg Trainor of Fairfield Advisors. They represented the parties involved in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$426,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,924.08
Annual Debt Service$455,088.98
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