Novaya Foxfield Industrial Acquires Industrial Property In Philadelphia For $8.5M
SOLD
$8,500,000
+ 1
Pennsylvania
See Similar DealsIndustrial360,800 SF
Sold 09/27/2021
SOLD
Novaya Foxfield Industrial Acquires Industrial Property In Philadelphia For $8.5M
700 East Godfrey Avenue, Philadelphia, PA, USA
See Similar DealsIndustrial360,800 SF
Sold 09/27/2021
+ 1
Summary
PENNSYLVANIA
Asset Type:Industrial
Price Per Square Foot:$23
Total Square Footage:360,800 SF
Transaction Type:Sale
The industrial property located at 700 E Godfrey Avenue in Philadelphia was recently sold for a price of $8,500,000. The property spans approximately 360,800 square feet, resulting in a price per square foot of $24. The transaction took place on September 27, 2021, and involved the buyer, Novaya Foxfield Industrial, and the seller, Thalheimer Brothers LLC.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $8,500,000
- Address: 700 E Godfrey Avenue
- Market: Philadelphia
Representing the buyer, Novaya Foxfield Industrial, in this deal were brokers Steve Marzullo, Adam Silverman, Bruce Westwood-Booth, and Kyle Sals from CBRE.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$453,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,198.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,294.34
Annual Debt Service$483,532.04
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