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Marcus & Millichap Sells Springfield Commons Retail Center In Springfield For $3.9M
SOLD
$3,900,000
Illinois
See Similar DealsRetail15,680 SF
Sold 11/15/2023
SOLD
Marcus & Millichap Sells Springfield Commons Retail Center In Springfield For $3.9M
2701 North Dirksen Parkway
See Similar DealsRetail15,680 SF
Sold 11/15/2023
Summary
ILLINOIS
Asset Type:Retail
Price Per Square Foot:$248
Total Square Footage:15,680 SF
Transaction Type:Sale
Marcus & Millichap has closed the $3.9 million sale of Springfield Commons, a 15,680-square-foot retail center located at 2701 North Dirksen Parkway in Springfield. The property was sold at a price of $249 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $3,900,000
- Square Footage: 15,680
- Market: Springfield
Alex Perez and Chris Garavaglia, along with the assistance of Steven Weinstock, represented the seller in this transaction. They were brokers from Marcus & Millichap.
Note: The sale of Springfield Commons highlights the successful closing of this retail center in Springfield.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$208,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,855.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,487.99
Annual Debt Service$221,855.88
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