Updated Dec 4, 2024
Allentown Economic Development Corp Acquires Warehouse From Spartan Brands In Allentown For $1.4M
801 Greenleaf Street
$1,400,000
$43/SF
Building Size
32,329 SF
Asset Type
Industrial
Closing
Oct 16, 2024
About this deal
AI
An industrial property located at 801 Greenleaf Street in Allentown, PA, has been sold. The asset encompasses a total square footage of 32,329 and was sold for $1,400,000, translating to a price per square foot of $43.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $1,400,000
- Square Footage: 32,329
- Address: 801 Greenleaf Street
- Market: Allentown, PA
- Buyer: Allentown Economic Development Corp.
- Seller: Spartan Brands
- Broker Representation: Michael (Mike) Adams & Sarah Finney Miller - NAI Summit
The transaction featured Allentown Economic Development Corp. as the buyer and Spartan Brands as the seller. The brokerage team of Mike Adams and Sarah Finney Miller facilitated the deal through NAI Summit, representing the seller in this transaction.
On the Map
$1,400,000
$43/SF
Industrial
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Players
Allentown 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
11.33%
Cash-on-Cash
-3.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93