Marcus & Millichap Sells Net-Leased Office Depot Property In Albany, GA For $2.27M
2406 Westgate Drive Albany, Georgia 31707, Usa
$2,270,000
$75/SF
Building Size
29,977 SF
Asset Type
Retail
Closing
Aug 15, 2023
AI
A 29,977-square-foot net-leased Office Depot property located at 2406 Westgate Drive in Albany, Georgia has been sold for $2.27 million. The property is situated on 3.13 acres of land in the retail market of Albany. The sale price equates to approximately $76 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,270,000
- Address: 2406 Westgate Drive
- Market: Albany, GA
- Acres: 3.13
The sale of this net-leased Office Depot property was facilitated by brokers John Leonard, Mitch Grant, Nicholas Kanich, and Robby Pfeiffer from Marcus & Millichap Real Estate Investment Services. They played a key role in negotiating and finalizing the deal, representing the buyer or seller in this transaction.
Players
Hawley 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
6.99%
Cash-on-Cash
-2.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93