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Marcus & Millichap's Don McMinn Facilitates $3.3M Sale Of Chick-fil-A Property On Vernon Street In LaGrange
SOLD
$3,300,000
Georgia
See Similar DealsRetail5,000 SF
Sold 07/19/2023
SOLD
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
See Similar DealsRetail5,000 SF
Sold 07/19/2023
Summary
GEORGIA
Asset Type:Retail
Price Per Square Foot:$660
Total Square Footage:5,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$175,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,724.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,643.68
Annual Debt Service$187,724.20
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