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Austin Smith Of Horvath & Tremblay Sells Dollar General Retail In Wilmington For $1.95M
SOLD
$1,950,000
Delaware
See Similar DealsRetail
Sold 07/02/2024
SOLD
Austin Smith Of Horvath & Tremblay Sells Dollar General Retail In Wilmington For $1.95M
1900 North Market Street
See Similar DealsRetail
Sold 07/02/2024
Summary
DELAWARE
Asset Type:Retail
Transaction Type:Sale
The sale of Dollar General at 1900 N Market St. in Wilmington, DE has been successfully closed at a price of $1,950,000. The property boasts a 15-year Absolute Net Lease with 6+ years remaining, along with multiple renewal options featuring rent increases.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,950,000
- Address: 1900 North Market Street
- Market: Wilmington, DE
Austin Smith of Horvath & Tremblay facilitated the deal, showcasing his expertise in the commercial real estate sector. The successful transaction underscores the value of the property with its long-term lease in place.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$103,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,927.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,243.99
Annual Debt Service$110,927.94
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