Marcus & Millichap Sells Single-Tenant Retail Portfolio Including BJ's Wholesale And CVS Pharmacy For $29.5M
Jacksonville
$29,500,000
$210/SF
Building Size
140,082 SF
Asset Type
Retail
Closing
Jul 20, 2023
About this deal
AI
A three-property portfolio of single-tenant net-leased assets, including a BJ's Wholesale, Napa Auto Parts store in Florida, and a CVS pharmacy in Massachusetts, was recently sold for $29.5 million. The portfolio consists of a total of 140,082 square feet of retail space, with an average price per square foot of $211. The properties are located in Jacksonville, Florida, and Barnstable, Massachusetts.
Summary of transaction details
- Property Type: Retail
- Sale Price: $29,500,000
- Square Footage: 140,082
- Price per Square Foot: $211
- Market: Jacksonville; Barnstable, Massachusetts
Steven Siegel of Marcus & Millichap's Institutional Property Advisors division represented the seller and facilitated the transaction. The sale attracted strong investment interest, reflecting the low-vacancy nature of the single-tenant retail sector. The institutional buyer was procured by Steven Siegel, highlighting his expertise in the market and ability to facilitate successful transactions in the retail sector.
On the Map
$29,500,000
$210/SF
Retail
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93