Newmark Brokers Mark Joines & Drew Fleming Sell Retail Property In Florence, AL For $24M
SOLD
$24,000,000
Alabama
See Similar DealsRetail142,044 SF
Sold 09/16/2022
SOLD
Newmark Brokers Mark Joines & Drew Fleming Sell Retail Property In Florence, AL For $24M
398 Cox Creek Parkway, Florence, Alabama 35630, United States
See Similar DealsRetail142,044 SF
Sold 09/16/2022
Summary
ALABAMA
Asset Type:Retail
Price Per Square Foot:$169
Total Square Footage:142,044 SF
Transaction Type:Sale
The retail property located at 374-398 Cox Creek Parkway in Florence, AL has been sold for $24,000,000. The property spans across 142,044 square feet, resulting in a price per square foot of $169.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $24,000,000
- Square Footage: 142,044
- Price per Square Foot: $169
- Address: 374-398 Cox Creek Parkway, Florence, AL
- Market: Florence, AL
The sale of this retail property was facilitated by Mark Joines & Drew Fleming, representing Newmark.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,279,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$85,266.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$113,772.24
Annual Debt Service$1,365,266.93
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