Destiny Worship Center Purchases Retail Property In Pensacola From Triple A Properties For $7M
6235 North Davis Highway
$7,000,000
$67/SF
Building Size
103,485 SF
Asset Type
Retail
Closing
Oct 28, 2024
AI
The transaction involved the sale of a 103,485-square-foot retail shopping center located at 6235 North Davis Highway in Pensacola. The sale price was $7,000,000, resulting in a price per square foot of $68. The property is currently occupied by tenants Hobby Lobby and Books-A-Million.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,000,000
- Address: 6235 North Davis Highway
- Market: Pensacola
- Square Footage: 103,485
- Price per Square Foot: $68
- Buyer: Destiny Worship Center
- Seller: Triple A Properties
- Brokers: Chris Smith & Sean Glickman - Cushman & Wakefield
Chris Smith and Sean Glickman of Cushman & Wakefield represented the seller, Triple A Properties, in completing the transaction. The buyer, Destiny Worship Center, acquired the asset in this deal facilitated by the brokerage firm.
Players
Pensacola 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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93