Joe Davidson Sells Industrial Property In Wilkes-Barre For $11.5M
Building Size
460,000 SF
Asset Type
Industrial
Closing
Feb 29, 2024
AI
The industrial property located at 180-184 Courtright Street in Wilkes-Barre, PA, was recently sold for $11,500,000. The asset spans 230,000 square feet, resulting in a price per square foot of $50. The sale was facilitated by Shaya Nisnevitz & Bryna Flaum from KSR, representing the seller, Joe Davidson.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $11,500,000
- Market: Wilkes-Barre, PA
- Address: 180-184 Courtright Street
- SF: 230,000
- Seller: Joe Davidson
- Broker: Shaya Nisnevitz & Bryna Flaum - KSR
Shaya Nisnevitz and Bryna Flaum, from KSR, played a crucial role in finalizing the sale of the industrial property. The successful transaction was marked by their diligent efforts and expertise in the real estate market, ensuring a smooth process for all parties involved.
Players
Market 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