Marcus & Millichap Sells Noonday Business Center In Kennesaw Georgia For $8.2 Million
771 Shallowford Road Northeast
$8,200,000
$124/SF
Building Size
66,000 SF
Asset Type
Mixed-use
Closing
Nov 13, 2024
AI
Noonday Business Center is a mixed-use asset located at 771 Shallowford Road Northeast in Kennesaw, GA. The property was sold for $8,200,000, featuring a total square footage of 66,000. The sale reflects a price per square foot of $124, and the property was fully leased at the time of sale.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $8,200,000
- Sale Date: 11/13/2024
- Address: 771 Shallowford Road Northeast
- Market: Kennesaw, GA
- Square Footage: 66,000
- Price per Square Foot: $124
- Cap Rate: 5.12%
- Asking Price: $7,970,000
- Selling Brokers: Ani Paulson & Mason Bierster - Marcus & Millichap
The transaction was brokered by Ani Paulson and Mason Bierster from Marcus & Millichap, who successfully marketed the property and achieved a sale price of $230,000 over the asking price. The deal showcases the competencies of the brokerage team in managing the transaction for a fully leased industrial facility.
Players
Kennesaw Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.93%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93