Updated Dec 4, 2024
Hinerfeld Commercial Real Estate Represents Both Parties In $2.3M Kingston Office Sale
541 Pierce Street
$2,300,000
$153/SF
Building Size
15,000 SF
Asset Type
Office
Closing
Oct 18, 2024
About this deal
AI
The property involved in the transaction is located at 541 Pierce Street, Kingston, PA. It is an office asset with a sale price of $2,300,000. The building encompasses approximately 15,000 square feet, translating to a price per square foot of $153. Previously, the property served as a Wells Fargo banking center.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $2,300,000
- Square Footage: 15,000
- Sale Price per Square Foot: $153
- Market: Kingston, PA
The transaction was represented by Griff Keefer from Hinerfeld Commercial Real Estate, who acted on behalf of both parties in this off-market sale. The new owner intends to renovate the property for mixed general and medical office use.
Kingston Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93