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LCM Funds Acquires Industrial Building In Milwaukee For $2.3M
SOLD
$2,300,000
Wisconsin
See Similar DealsIndustrial90,000 SF
Sold 10/25/2023
SOLD
LCM Funds Acquires Industrial Building In Milwaukee For $2.3M
5151 West State Street
See Similar DealsIndustrial90,000 SF
Sold 10/25/2023
Summary
WISCONSIN
Asset Type:Industrial
Price Per Square Foot:$25
Total Square Footage:90,000 SF
Transaction Type:Sale
Mortgage Guaranty Insurance Corp. (MGIC) has sold an approximately 90,000-square-foot industrial building located at 5151 W. State St. in Milwaukee, WI. The property was purchased by local real estate investor LCM Funds for a total of $2.3 million. The sale price of the property equates to a price per square foot of $26.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $2,300,000
- Square Footage: 90,000
- Address: 5151 West State Street, Milwaukee, WI
- Market: Milwaukee, WI
The buyer in this transaction is Scott Revolinski, representing LCM Funds. The seller is Mortgage Guaranty Insurance Corp. The deal was facilitated by brokers Scott Furmanski and Bill Bonifas from CBRE.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$122,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,171.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,903.17
Annual Debt Service$130,838.08
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