Michael Houghton Acquires Retail Property In Davenport From Humberto Alem For $4.77M
45670 US Route 27
$4,772,823
$762/SF
Building Size
6,262 SF
Asset Type
Retail
Closing
Sep 18, 2024
AI
The property asset involves a retail space located at 45670 US Route 27 in the Davenport market. The sale price for this property was $4,772,823, with a total square footage of 6,262, resulting in a price per square foot of $762.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,772,823
- Square Footage: 6,262
- Price Per Square Foot: $762
- Buyer: Michael Houghton
- Seller: Humberto Alem
- Brokers: Ronnie Issenberg, Gabriel Britti & Don McMinn - Marcus & Millichap
- Date of transaction: 09/18/2024
This transaction involved key individuals including the buyer, Michael Houghton, and the seller, Humberto Alem, facilitated by brokers Ronnie Issenberg, Gabriel Britti, and Don McMinn, all representing Marcus & Millichap in the deal.
Players
Davenport 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
3.32%
Cash-on-Cash
-0.95%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93