Mimms Enterprises Acquires North Point Village Retail Center In Alpharetta For $19M
7300 North Point Parkway
$19,000,000
$332/SF
Building Size
57,219 SF
Asset Type
Retail
Closing
Nov 19, 2024
AI
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
Alpharetta 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
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93