Compass Broker Ryan McManus Represents $3.1M Sale Of Development Site On N Broad St, Philadelphia
SOLD
$3,100,000
Pennsylvania
See Similar DealsDevelopment Site8,200 SF
Sold 08/20/2021
SOLD
Compass Broker Ryan McManus Represents $3.1M Sale Of Development Site On N Broad St, Philadelphia
676 N Broad St, Philadelphia, PA, USA
See Similar DealsDevelopment Site8,200 SF
Sold 08/20/2021
Summary
PENNSYLVANIA
Asset Type:Development Site
Price Per Square Foot:$378
Total Square Footage:8,200 SF
Transaction Type:Sale
A development site located at 676 N Broad St in Philadelphia, PA has been sold for a price of $3,100,000. The property spans a total area of 8,200 square feet and consists of 67 units. This sale was completed on 08/20/2021.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,100,000
- Square Footage: 8,200
- Units: 67
The sale of this development site was facilitated by Ryan McManus from Agent Philadelphia - Compass. He represented the seller and assisted in closing the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$165,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,013.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,695.58
Annual Debt Service$176,346.98
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