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Horvath & Tremblay Completes Sale Of Firestone Retail Property In Smyrna, DE For $3.6M
SOLD
$3,567,280
Delaware
See Similar DealsRetail6,116 SF
Sold 06/30/2023
SOLD
Horvath & Tremblay Completes Sale Of Firestone Retail Property In Smyrna, DE For $3.6M
15 South Cory Lane Smyrna, Delaware 19977, USA
See Similar DealsRetail6,116 SF
Sold 06/30/2023
Summary
DELAWARE
Asset Type:Retail
Price Per Square Foot:$583
Total Square Footage:6,116 SF
Transaction Type:Sale
The real estate brokerage firm, Horvath & Tremblay, has successfully completed the sale of a retail property located at 15 South Cory Lane in Smyrna, DE. The property, which was sold for a price of $3,567,280, consists of a Firestone location. With a total area of 6,116 square feet, the property was sold at a rate of $583 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $3,567,280
- Address: 15 South Cory Lane
- Market: Smyrna, DE
- SF: 6,116
- PPSF: $583
The sale of the Firestone location showcases the expertise and success of Horvath & Tremblay in the Mid-Atlantic region's real estate market. The transaction was facilitated by brokers Kyle Danielson, Hill Kanellos, and Austin Smith of Horvath & Tremblay, who represented the buyer and seller in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$190,254.92
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,673.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,910.73
Annual Debt Service$202,928.73
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