CTO Realty Growth Acquires Retail Property In Atlanta For $80.2M
SOLD
$80,200,000
Georgia
See Similar DealsRetail162,500 SF
Sold 07/12/2022
SOLD
CTO Realty Growth Acquires Retail Property In Atlanta For $80.2M
905 Memorial Drive Southeast, Atlanta, Georgia 30316, United States
See Similar DealsRetail162,500 SF
Sold 07/12/2022
Summary
GEORGIA
Asset Type:Retail
Price Per Square Foot:$493
Total Square Footage:162,500 SF
Transaction Type:Sale
The retail property located at 905 Memorial Dr SE in Atlanta, GA has been sold in a transaction totaling $80,200,000. The property spans 162,500 square feet, resulting in a price per square foot of $494. The sale was completed between CTO Realty Growth as the buyer and Fuqua Development as the seller.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $80,200,000
- Address: 905 Memorial Dr SE, Atlanta, GA
- Market: Atlanta, GA
- Square Footage: 162,500
- Price Per Square Foot: $494
The buyer in this transaction, CTO Realty Growth, acquired the property from the seller, Fuqua Development.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,277,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$284,933.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$380,188.92
Annual Debt Service$4,562,266.99
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