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Mimms Enterprises Acquires North Point Village Retail Center In Alpharetta For $19M

Property Image
SOLD
$19,000,000

Georgia

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Retail57,219 SF
Sold 11/19/2024
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Property Image
SOLD

Mimms Enterprises Acquires North Point Village Retail Center In Alpharetta For $19M

7300 North Point Parkway

See Similar Deals
Retail57,219 SF
Sold 11/19/2024
the dealplayerscompscontact
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Summary

GEORGIA
Asset Type:Retail
Price Per Square Foot:$332
Total Square Footage:57,219 SF
Transaction Type:Sale

A retail center located at 7300 North Point Parkway in Alpharetta, GA was sold as part of this transaction. The sale price was set at $19,000,000 for a total square footage of 57,219. The price per square foot for this asset equates to $332.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $19,000,000
  • Address: 7300 North Point Parkway
  • Market: Alpharetta, GA
  • Square Footage: 57,219
  • Price per Square Foot: $332
  • Buyer: Mimms Enterprises
  • Seller: Robert Fransen - Coro Realty Advisors
  • Broker: Fred Victor - Atlantic Retail

The transaction involved Mimms Enterprises acquiring the retail center from seller Robert Fransen, who is affiliated with Coro Realty Advisors. The deal was facilitated by broker Fred Victor from Atlantic Retail, indicating a professional representation in the retail asset market.

Players

Fred Victor
Atlantic Retail
Fred Victor
8 deals$144.5M volume
BROKER

Details

SOLD
IMAGE: 11/19/2024 ADDRESS: 7300 North Point Parkway MARKET: Alpharetta, GA ASSET TYPE: Retail BUYER: Mimms Enterprises SELLER: Robert Fransen - Coro Realty Advisors BROKER: Fred Victor - Atlantic Retail SALE PRICE: $19,000,000 SF: 57,219 ~ PPSF: $332 NOTE: Coro Realty Advisors sold North Point Village, a 57,219-square-foot retail center in Alpharetta, GA, to Mimms Enterprises for $19 million, with Atlantic Retail's Fred Victor brokering the deal.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,013,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$67,502.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$90,069.69
Annual Debt Service$1,080,836.32