facebook

traded

+ Submit
Home

/

Deals

/

Georgia

/

Retail

/

Sale

/

2406 Westgate Drive Albany,...

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

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

Nicholas Kanich

Marcus & Millichap

Broker

$135.3M

vol

26 deals

Broker

Hawley Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

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