Marcus & Millichap's Don McMinn Facilitates $3.3M Sale Of Chick-fil-A Property On Vernon Street In LaGrange
2110 Vernon Street LaGrange, Georgia 30240, USA
$3,300,000
$660/SF
Building Size
5,000 SF
Asset Type
Retail
Closing
Jul 19, 2023
AI
A newly constructed single-tenant property in LaGrange, GA has been sold for $3.3 million. The property, located at 2110 Vernon Street, is a retail space spanning 5,000 square feet. The sale price per square foot was $660.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $3,300,000
- Square Footage: 5,000
- Address: 2110 Vernon Street
- Market: LaGrange, GA
Marcus & Millichap facilitated the sale of this property with Don McMinn of Marcus & Millichap's Taylor McMinn Retail Group representing the undisclosed seller in the transaction. The deal involved a 15-year ground lease, and the space is currently occupied by Chick-fil-A.
Players
Lagrange 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
4.81%
Cash-on-Cash
-1.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93