Marcus & Millichap Facilitates $2.3M Sale Of Retail Property Leased By Office Depot In Albany, GA
2406 Westgate Drive Albany, Georgia 31707, USA
$2,300,000
$76/SF
Building Size
29,977 SF
Asset Type
Retail
Closing
Aug 16, 2023
AI
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.
Players
Albany 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
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93