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Marcus & Millichap Facilitates $2.3M Sale Of Retail Property Leased By Office Depot In Albany, GA
SOLD
$2,300,000
Georgia
See Similar DealsRetail29,977 SF
Sold 08/16/2023
SOLD
Marcus & Millichap Facilitates $2.3M Sale Of Retail Property Leased By Office Depot In Albany, GA
2406 Westgate Drive Albany, Georgia 31707, USA
See Similar DealsRetail29,977 SF
Sold 08/16/2023
Summary
GEORGIA
Asset Type:Retail
Price Per Square Foot:$76
Total Square Footage:29,977 SF
Transaction Type:Sale
A retail property located at 2406 Westgate Drive in Albany, GA has been sold for $2,300,000. The property spans 29,977 square feet and was sold at a price per square foot of $77. Office Depot has leased 19,181 square feet of the property on a net-lease basis.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,300,000
- Address: 2406 Westgate Drive, Albany, GA
- Market: Albany, GA
- Square Footage: 29,977
- Price per Square Foot: $77
Marcus & Millichap, represented by Mitch Grant, Nicholas Kanich, and Robby Pfeiffer, facilitated the sale of the property. The transaction showcases the expertise and involvement of Marcus & Millichap's brokers in the retail real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$122,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,171.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,903.17
Annual Debt Service$130,838.08
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