Updated Oct 28, 2024
U.S. Construction Acquires Development Site In Philadelphia For $5.75M
1120 Frankford Avenue, Philadelphia, Pennsylvania 19125, United States
$5,750,000
$246/SF
Building Size
23,304 SF
Asset Type
Development Site
Closing
Aug 22, 2022
About this deal
AI
A development site located at 1120-36 & 1138 Frankford Avenue in Philadelphia, PA has been sold for $5,750,000. The property consists of 107 units, with an average price per unit of $53,738. The total square footage of the site is 23,304, resulting in a price per square foot of $247. Additionally, there is 15,000 square feet of commercial space.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $5,750,000
- Units: 107
- Price per Unit: $53,738
- Total Square Footage: 23,304
- Price per Square Foot: $247
- Commercial Square Footage: 15,000
U.S. Construction has acquired the development site. The deal was facilitated by Ken Wellar and Alan Krawitz from Rittenhouse Realty Advisors.
On the Map
$5,750,000
$246/SF
Development Site
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Players
Philadelphia Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.76%
Cash-on-Cash
-0.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93