Marcus & Millichap Sells Montgomery, AL Retail Property For $8.92M
3001 Mcgehee Road, Montgomery, Alabama 36111, United States
$8,920,000
Building Size
—
Asset Type
Retail
Closing
Jan 26, 2023
AI
The retail property located at 3001 McGehee Road & 2111 McLemore Drive in Montgomery, AL has been sold for a total price of $8,920,000. The property is situated in a prime location and offers great potential for retail businesses.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $8,920,000
- Address: 3001 McGehee Road & 2111 McLemore Drive, Montgomery, AL
- Market: Montgomery, AL
- Brokers: Jared Kaye, Sonny Molly & Eddie Greenhalgh - Marcus & Millichap
The deal was facilitated by Jared Kaye, Sonny Molly, and Eddie Greenhalgh from Marcus & Millichap. Their expertise and knowledge in the retail property market contributed to the successful transaction. Their professionalism and dedication ensured a smooth process for both the buyer and the seller.
Montgomery Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.78%
Cash-on-Cash
-0.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93