Marcus & Millichap Facilitates $7.5M Sale Of Paradise Shoppes Retail Center In Monroe
1986 West Spring Street
$7,500,000
$319/SF
Building Size
23,500 SF
Asset Type
Retail
Closing
Mar 14, 2024
About this deal
AI
The $7.5 million sale of Paradise Shoppes, a 23,500-square-foot retail center located at 1986 West Spring Street in Monroe, GA, was facilitated by Marcus & Millichap. The property was acquired by an unnamed private equity firm based in Tulsa in an all-cash transaction.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,500,000
- Address: 1986 West Spring Street
- Market: Monroe, GA
- Square Footage: 23,500
- Price per Square Foot: $319
- Broker: Marc Irvin - Marcus & Millichap
Marc Irvin of Marcus & Millichap played a key role as the broker representing the parties in the sale of Paradise Shoppes. The transaction involved skillful negotiations between the seller and the private equity firm, culminating in the successful transfer of ownership.
Players
Monroe 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
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93