Marcus & Millichap Sells Springfield Commons Retail Center In Springfield For $3.9M
2701 North Dirksen Parkway
$3,900,000
$248/SF
Building Size
15,680 SF
Asset Type
Retail
Closing
Nov 15, 2023
AI
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.
Players
Springfield 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
4.07%
Cash-on-Cash
-1.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93