Scott Scuderi Acquires Development Site On North 3rd Street In Philadelphia For $1.25M
SOLD
$1,250,000
Pennsylvania
See Similar DealsDevelopment Site
Sold 11/30/2022
SOLD
Scott Scuderi Acquires Development Site On North 3rd Street In Philadelphia For $1.25M
1037-39 North 3rd Street
See Similar DealsDevelopment Site
Sold 11/30/2022
Summary
PENNSYLVANIA
Asset Type:Development Site
Transaction Type:Sale
A development site located at 1037-39 North 3rd Street in Philadelphia has been sold for a price of $1,250,000. The property offers potential for future development and represents an opportunity for the buyer, Scott Scuderi, to capitalize on the growing market in Philadelphia.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,250,000
- Address: 1037-39 North 3rd Street
- Market: Philadelphia
Jason Kleinman and Shawn Witter, representing SDG Real Estate, facilitated the transaction between the buyer, Scott Scuderi, and the sellers, Tom Kuon, Luke Napoli, and Lara Napoli. As experienced brokers, Kleinman and Witter were able to guide the parties involved to a successful closing.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$66,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,440.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,925.64
Annual Debt Service$71,107.65
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