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Marcus & Millichap Sells Net-Leased Office Depot Property In Albany, GA For $2.27M

Property Image
SOLD
$2,270,000
Mitch Grant
John Leonard
Nicholas Kanich
+ 1

Georgia

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Retail29,977 SF
Sold 08/15/2023
the dealplayerscompscontact
Property Image
SOLD

Marcus & Millichap Sells Net-Leased Office Depot Property In Albany, GA For $2.27M

2406 Westgate Drive Albany, Georgia 31707, Usa

See Similar Deals
Retail29,977 SF
Sold 08/15/2023
Mitch Grant
John Leonard
Nicholas Kanich
+ 1
the dealplayerscompscontact
Contact now

Summary

GEORGIA
Asset Type:Retail
Price Per Square Foot:$75
Total Square Footage:29,977 SF
Transaction Type:Sale

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

Nicholas Kanich
Marcus & Millichap
Nicholas Kanich
26 deals$135.3M volume
BROKER
John Leonard
Marcus & Millichap
John Leonard
6 deals$280.9M volume
BROKER
Mitch Grant
Marcus & Millichap
Mitch Grant
6 deals$15.8M volume(312) 624-7018
BROKER
Robby Pfeiffer
Marcus & Millichap
Robby Pfeiffer
4 deals$13.9M volume
BROKER

Details

SOLD
IMAGE: John Leonard, Mitch Grant, Nicholas Kanich & Robby Pfeiffer DATE: 08/15/2023 ADDRESS: 2406 Westgate Drive MARKET: Albany, GA ASSET TYPE: Retail ~ ACRES: 3.13 BROKERS: John Leonard, Mitch Grant, Nicholas Kanich & Robby Pfeiffer - Marcus & Millichap SALE PRICE: $2,270,000 SF: 29,977 ~ PPSF: $76 NOTE: Marcus & Millichap Real Estate Investment Services announced the sale of a 29,977-square-foot net-leased Office Depot property in Albany, Georgia for $2.27 million.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$121,066.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,064.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,760.96
Annual Debt Service$129,131.50