Bill Cook Acquires Retail Property In Coatesville, PA For $9M
SOLD
$9,000,000
Pennsylvania
See Similar DealsRetail13,000 SF
Sold 04/25/2022
SOLD
Bill Cook Acquires Retail Property In Coatesville, PA For $9M
101 Reeceville Road, Coatesville, Pennsylvania 19320, United States
See Similar DealsRetail13,000 SF
Sold 04/25/2022
Summary
PENNSYLVANIA
Asset Type:Retail
Price Per Square Foot:$692
Total Square Footage:13,000 SF
Transaction Type:Sale
Located at 101 Reeceville Rd in Coatesville, PA, this retail property has been recently sold. The transaction, which took place on 04/25/2022, involved a NNN leased CVS with a remaining lease term of 16 years. The property spans an area of 13,000 square feet and was purchased for a total price of $9,000,000, resulting in a price per square foot of $692.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $9,000,000
- Address: 101 Reeceville Rd, Coatesville, PA
- Market: Coatesville, PA
The buyer in this transaction is Bill Cook, while the seller is Brian Tolstano. Represented by Josh Goldflam of Highcap Group, the deal was successfully facilitated. It is worth noting that the property was purchased at a 5.5% capitalization rate (CAP).
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$480,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10
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