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630 Municipal Drive

NAI Summit Announces $6.5M Sale Of Fully Leased Flex Building In Nazareth, PA
SOLDMixed-use

NAI Summit Announces $6.5M Sale Of Fully Leased Flex Building In Nazareth, PA

630 Municipal Drive

$6,500,000

Building Size

Asset Type

Mixed-use

Closing

Jan 11, 2024

AI

A fully leased 67,366 sq ft flex building in Nazareth, Pennsylvania, has been sold for $6.5 million, according to Eastern Pennsylvania's NAI Summit. The property, located at 630 Municipal Drive, is a mixed-use asset. Representing the seller in the transaction were Michael Adams and Sarah Finney Miller.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $6,500,000
  • Address: 630 Municipal Drive, Nazareth, PA
  • Market: Nazareth, PA

F. Fisher & Company, LLC served as the buyer's representative in the deal, while Michael Adams and Sarah Finney Miller, from NAI Capital, represented the seller.

The sale of this fully leased flex building in Nazareth marks a significant transaction in the Eastern Pennsylvania market. The involvement of notable industry professionals adds further credibility to the deal.

Players

Michael Adams

NAI Global

Broker

$43M

vol

7 deals

Broker

Nazareth Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.44%

Cash-on-Cash

-0.70%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93