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Marcus & Millichap Sells Retail Property In Hinesville, GA For $10.3M

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SOLD
$10,300,000

Georgia

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Retail41 SF
Sold 01/18/2023
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Property Image
SOLD

Marcus & Millichap Sells Retail Property In Hinesville, GA For $10.3M

755 East Oglethorpe Highway, Hinesville, Georgia 31313, United States

See Similar Deals
Retail41 SF
Sold 01/18/2023
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Summary

GEORGIA
Asset Type:Retail
Price Per Square Foot:$251,219
Total Square Footage:41 SF
Transaction Type:Sale

A retail property located at 755 Oglethorpe Highway in Hinesville, GA has been sold for a price of $10,300,000. The property spans approximately 41,800 square feet, resulting in a price per square foot of $246. The transaction took place on January 18, 2023. The sale was facilitated by Al Taf & Brian Munn, brokers from Marcus & Millichap.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $10,300,000
  • Address: 755 Oglethorpe Highway, Hinesville, GA
  • Market: Hinesville, GA
  • Square Footage: 41,800
  • Price per Square Foot: $246
  • Brokers: Al Taf & Brian Munn - Marcus & Millichap

The sale of this retail property was orchestrated by Al Taf & Brian Munn, representatives from Marcus & Millichap. They successfully facilitated the transaction between the buyer and seller, culminating in the sale price of $10,300,000. The property, located at 755 Oglethorpe Highway in Hinesville, GA, spans approximately 41,800 square feet.

Players

Altaf "Al Taf"  Sulaiman
3 deals$35.5M volume
BROKER

Brian Munn
Marcus & Millichap
4 deals$24.3M volume
BROKER

Details

SOLD
IMAGE: Al Taf & Brian Munn DATE: 01/18/2023 ADDRESS: 755 Oglethorpe Highway MARKET: Hinesville, GA ASSET TYPE: Retail BROKER: Al Taf & Brian Munn - Marcus & Millichap SALE PRICE: $10,300,000 SF: 41,800 ~ PPSF: $246

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

$549,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$36,593.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$48,827.25
Annual Debt Service$585,927.06