Cooper Commercial Investment Group Arranges $1.8M Sale Of Retail Property Occupied By Starbucks In Springfield
3412 Freedom Drive
$1,800,000
Building Size
—
Asset Type
Retail
Closing
Oct 9, 2024
About this deal
AI
The transaction involved a single-tenant retail property located at 3412 Freedom Drive in Springfield. The retail asset was sold for $1,800,000 and is currently occupied by Starbucks. The property features a lease that has approximately five years remaining, situated as an outparcel to Walmart, Target, and Aldi.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,800,000
- Address: 3412 Freedom Drive
- Market: Springfield
- Lease Remaining: Approximately 5 years
Bob Havasi and Dan Cooper from Cooper Group represented the seller in this transaction. The deal was arranged by the Cooper Commercial Investment Group, focusing on this investment opportunity with the established tenant Starbucks.
On the Map
$1,800,000
Retail
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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
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93