615 Ventures Acquires Retail Property In Kennesaw, GA For $13M
725 Ernest W Barrett Pkwy NW, Kennesaw, Georgia 30144, United States
$13,000,000
$180,555/SF
Building Size
72 SF
Asset Type
Retail
Closing
Apr 17, 2023
AI
A retail property located at 725 Ernest W. Barrett Parkway in Kennesaw, GA has been sold for a total price of $13,000,000. The property spans a total of 72,168 square feet, resulting in a price per square foot of $180. The transaction took place on December 14, 2022, and involved the buyer, 615 Ventures, and the seller, Ardent Cos.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $13,000,000
- Address: 725 Ernest W. Barrett Parkway, Kennesaw, GA
- Market: Kennesaw, GA
- Buyer: 615 Ventures
- Seller: Ardent Cos
- Brokers: Bryan Belk & John Tennant - Franklin Street
- Square Footage: 72,168
- Price per Square Foot: $180
The transaction was facilitated by Bryan Belk and John Tennant from Franklin Street. They represented the buyer and seller in this deal, respectively.
Players
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
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93