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2406 Westgate Drive Albany,...

Marcus & Millichap Facilitates $2.3M Sale Of Retail Property Leased By Office Depot In Albany, GA
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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

Nicholas Kanich

Marcus & Millichap

Broker

$135.3M

vol

26 deals

Broker

Albany 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

6.90%

Cash-on-Cash

-1.97%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93