Central Ave. Corp Acquires Retail Property In Atlanta For $18.3M
3565 Martin Luther King Jr Boulevard, Atlanta, Georgia, United States
$18,300,000
$184,848/SF
Building Size
99 SF
Asset Type
Retail
Closing
Oct 11, 2022
About this deal
AI
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.
On the Map
$18,300,000
$184,848/SF
Retail
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Players
Atlanta 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
0.87%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93