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Maryland-based America's Realty Acquires Otter Creek Shopping Center In Elgin For $18.8M
SOLD
$18,800,000
Illinois
See Similar DealsRetail238,835 SF
Sold 01/05/2024
SOLD
Maryland-based America's Realty Acquires Otter Creek Shopping Center In Elgin For $18.8M
300 South Randall Road
See Similar DealsRetail238,835 SF
Sold 01/05/2024
Summary
ILLINOIS
Asset Type:Retail
Price Per Square Foot:$78
Total Square Footage:238,835 SF
Transaction Type:Sale
Maryland-based America's Realty has acquired the 238,835-square-foot Otter Creek Shopping Center on South Randall Road in Elgin. The sale price for the retail property was $18.8 million, resulting in a price per square foot of $79.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $18,800,000
- Square Footage: 238,835
- Address: 300 South Randall Road, Elgin
- Market: Elgin
The buyer for this transaction was Carl Verstandig representing America's Realty. The property, known as Otter Creek Shopping Center, was acquired by America's Realty for a total of $18.8 million. This acquisition marks an expansion of America's Realty's portfolio in the Elgin market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,002,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$66,792.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$89,121.59
Annual Debt Service$1,069,459.10
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