Northward Development LLC Acquires 85,289 SF Retail Center In Woodland Park, Birmingham For $5.2M
873 Dennison Avenue Southwest Birmingham, Alabama 35211, USA
$5,200,000
$61/SF
Building Size
85,289 SF
Asset Type
Retail
Closing
Aug 9, 2023
About this deal
AI
An 85,289-square-foot retail shopping center located at 873 Dennison Ave SW in Birmingham, AL has been sold. The property is situated at the junction of Martin Luther King Jr. Drive and Dennison Avenue in the Woodland Park neighborhood. The sale price for the retail shopping center was $5,200,000, with a price per square foot of $61.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $5,200,000
- Address: 873 Dennison Ave SW, Birmingham, AL
- Square Footage: 85,289
- Price per Square Foot: $61
- Market: Birmingham, AL
The buyer of the retail shopping center is Northward Development LLC, while the seller is Heritage Town Center Partners LLC.
Players
Birmingham Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.05%
Cash-on-Cash
-0.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93