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Central Ave. Corp Acquires Retail Property In Atlanta For $18.3M

Property Image
SOLD
$18,300,000
Jeffrey Cicurel
Alex Sharrin
+ 1

Georgia

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Retail99 SF
Sold 10/11/2022
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Property Image
SOLD

Central Ave. Corp Acquires Retail Property In Atlanta For $18.3M

3565 Martin Luther King Jr Boulevard, Atlanta, Georgia, United States

See Similar Deals
Retail99 SF
Sold 10/11/2022
Jeffrey Cicurel
Alex Sharrin
+ 1
Contact now

Summary

GEORGIA
Asset Type:Retail
Price Per Square Foot:$184,848
Total Square Footage:99 SF
Transaction Type:Sale

The retail property located at 3565 Martin Luther King Jr. Blvd in Atlanta, GA has been sold in a recent transaction. The buyer, Central Ave. Corp, acquired the property from the sellers, Columbia Development Group and Lubert Adler. The sale was facilitated by the brokers Alex Sharrin, Danny Finkle, Tom Kolarczyk, and Jeff Cicurel of JLL Capital Markets.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $18,300,000
  • Address: 3565 Martin Luther King Jr. Blvd, Atlanta, GA
  • Market: Atlanta, GA
  • Square Footage: 99,839 SF
  • Price Per Square Foot: $183

The key individuals and companies involved in this deal were Alex Sharrin, Danny Finkle, Tom Kolarczyk, and Jeff Cicurel from JLL Capital Markets, who represented the buyer and seller in the transaction. They played a crucial role in facilitating the successful sale of the retail property.

Players

Danny Finkle
57 deals$3.9B volume
BROKER

Alex Sharrin
JLL
36 deals$931.4M volume(305) 913-5545
BROKER

Jeffrey Cicurel
JLL
14 deals$244.3M volume(773) 573-8118
BROKER

Thomas Kolarczyk
JLL
10 deals$292.9M volume
BROKER

SELLER

Details

SOLD
IMAGE: Alex Sharrin, Danny Finkle, Tom Kolarczyk & Jeff Cicurel DATE: 11/10/2022 ADDRESS: 3565 Martin Luther King Jr. Blvd MARKET: Atlanta, GA ASSET TYPE: Retail BUYER: Central Ave. Corp SELLER: Columbia Development Group & Lubert Adler BROKERS: Alex Sharrin, Danny Finkle, Tom Kolarczyk & Jeff Cicurel - JLL Capital Markets SALE PRICE: $18,300,000 SF: 99,839 ~ PPSF: $183

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

$976,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$65,016.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$86,751.34
Annual Debt Service$1,041,016.03