Marcus & Millichap Sells 142,700-SF Warehouse/Office Complex In Wyomissing For $11.75M
220 North Park Road
$11,750,000
$82/SF
Building Size
142,700 SF
Asset Type
MultiFamily
Closing
Jun 21, 2023
AI
Marcus & Millichap has sold a 142,700-square-foot warehouse/office complex located at 220 North Park Road in Wyomissing, Pennsylvania. The property, situated on 9.16 acres of land, was sold for a total price of $11,750,000, resulting in a price per square foot of $82. This multi-tenant industrial asset offers diverse rental risk with approximately 20 tenants, highlighting the strong market demand for such properties in the area.
Summary of transation details
- Property Type: Office
- Transaction Amount: $11,750,000
- Acres: 9.16
The deal was facilitated by the brokerage team consisting of Sean Beuche, Alan Cafiero, and Mark Gjonbalaj from Marcus & Millichap.
Players
Wyomissing MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.35%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93