615 Ventures Acquires Retail Property In Kennesaw, GA For $13M
SOLD
$13,000,000
Georgia
See Similar DealsRetail72 SF
SOLD
615 Ventures Acquires Retail Property In Kennesaw, GA For $13M
725 Ernest W Barrett Pkwy NW, Kennesaw, Georgia 30144, United States
See Similar DealsRetail72 SF
Summary
GEORGIA
Asset Type:Retail
Price Per Square Foot:$180,555
Total Square Footage:72 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$693,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$46,186.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$61,626.63
Annual Debt Service$739,519.59
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