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3940 Cherokee Street Northwest

Taylor Gerhardt Of FrostPoint Capital Acquires Retail Asset In Kennesaw, GA For $6.9M
SOLDRetail

Taylor Gerhardt Of FrostPoint Capital Acquires Retail Asset In Kennesaw, GA For $6.9M

3940 Cherokee Street Northwest

$6,900,000

$169/SF

Building Size

40,767 SF

Asset Type

Retail

Closing

Mar 5, 2024

AI

The Shops at Shiloh Crossing, a 40,767-square-foot retail property located at 3940 Cherokee Street Northwest in Kennesaw, GA, has been sold for $6,900,000. The buyer, Taylor Gerhardt of FrostPoint Capital, acquired the shopping center situated approximately 30 miles northwest of Atlanta.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $6,900,000
  • Square Footage: 40,767
  • Address: 3940 Cherokee Street Northwest
  • Market: Kennesaw, GA
  • Buyer: Taylor Gerhardt - FrostPoint Capital
  • Broker: Conor Sweeney - Foundry Commercial

FrostPoint Capital, led by Taylor Gerhardt, partnered with Conor Sweeney from Foundry Commercial to successfully close the deal for The Shops at Shiloh Crossing. The acquisition marks a strategic investment in the Kennesaw retail market, adding to FrostPoint Capital's portfolio.

Players

Conor Sweeney

Foundry Commercial

Broker

$11.3M

vol

2 deals

Broker

Kennesaw 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

2.30%

Cash-on-Cash

-0.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93