Fred Lewis & Dennis Cisterna Acquire Retail Property In Schaumburg For $10.5M With Tenant Tesla Motors
SOLD
$10,500,000
Illinois
See Similar DealsRetail27,032 SF
Sold 02/09/2021
SOLD
Fred Lewis & Dennis Cisterna Acquire Retail Property In Schaumburg For $10.5M With Tenant Tesla Motors
320 W Golf Rd, Schaumburg, IL, USA
See Similar DealsRetail27,032 SF
Sold 02/09/2021
Summary
ILLINOIS
Asset Type:Retail
Price Per Square Foot:$388
Total Square Footage:27,032 SF
Transaction Type:Sale
The retail property located at 320 W Golf Rd in Schaumburg has been sold in a transaction that closed on 02/09/2021. This property, spanning 27,032 square feet, was sold for a price of $10,500,000, resulting in a price per square foot of $388.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $10,500,000
- Address: 320 W Golf Rd
- Market: Schaumburg
The buyers of the property are Fred Lewis and Dennis Cisterna from Sentinel Net Lease. The tenant occupying the property is Tesla Motors. This transaction involved key individuals such as Fred Lewis and Dennis Cisterna, who represented Sentinel Net Lease. Their roles in the deal were as the buyer's representatives.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$559,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$37,304.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$49,775.36
Annual Debt Service$597,304.28
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