IG Logistics Acquires Industrial Property In Philadelphia For $3.5M
SOLD
$3,500,000
Pennsylvania
See Similar DealsIndustrial174,240 SF
Sold 10/26/2021
SOLD
IG Logistics Acquires Industrial Property In Philadelphia For $3.5M
3200 S 70th St, Philadelphia, PA, USA
See Similar DealsIndustrial174,240 SF
Sold 10/26/2021
Summary
PENNSYLVANIA
Asset Type:Industrial
Price Per Square Foot:$20
Total Square Footage:174,240 SF
Transaction Type:Sale
Located at 3200 S. 70th St in Philadelphia, this industrial property spans across 4 acres. The property was recently sold for a price of $3,500,000. The transaction took place on 10/26/2021.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $3,500,000
- Address: 3200 S. 70th St, Philadelphia
- Market: Philadelphia
- Acres: 4
The buyer of this industrial property was IG Logistics, represented by Daniel Glaser and Sam Schneider. The sale was facilitated by Larry Bergen from Colliers.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$186,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,434.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,591.79
Annual Debt Service$199,101.43
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