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
About this deal
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.
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