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Marcus & Millichap Sells 142,700-SF Warehouse/Office Complex In Wyomissing For $11.75M
SOLD
$11,750,000
Pennsylvania
See Similar DealsMultiFamily142,700 SF
Sold 06/21/2023
SOLD
Marcus & Millichap Sells 142,700-SF Warehouse/Office Complex In Wyomissing For $11.75M
220 North Park Road
See Similar DealsMultiFamily142,700 SF
Sold 06/21/2023
Summary
PENNSYLVANIA
Asset Type:MultiFamily
Price Per Square Foot:$82
Total Square Footage:142,700 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$626,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$41,745.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$55,700.99
Annual Debt Service$668,411.93
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