The Bronn Family Acquires Retail Property In Conyers, GA For $2.7M
SOLD
$2,665,298
Georgia
See Similar DealsMultiFamily6,979 SF
Sold
SOLD
The Bronn Family Acquires Retail Property In Conyers, GA For $2.7M
929 Iris Drive Southeast
See Similar DealsMultiFamily6,979 SF
Sold
Summary
GEORGIA
Asset Type:MultiFamily
Price Per Square Foot:$381
Total Square Footage:6979 SF
Transaction Type:Sale
The retail property located at 929 Iris Drive Southeast in Conyers, GA has been sold. The property spans 6,979 square feet and was sold at a price of $2,665,298, resulting in a price per square foot of $382. The transaction took place on May 16, 2023, with a cap rate of 5.63%.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,665,298
- Square Footage: 6,979
- Price per Square Foot: $382
- Cap Rate: 5.63%
- Market: Conyers, GA
The buyer of the property is The Bronn Family. The transaction was facilitated by brokers Stephen R. Preuss Sr and Kevin Schmitz from Ripco, along with Robert Sharfstein.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$142,149.22
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,469.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,634.87
Annual Debt Service$151,618.47
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