Realty Income Corporation Purchases La-Z-Boy Gallery At 3440 Wabash Avenue For $5,279,222
3440 Wabash Avenue
$5,279,222
Building Size
—
Asset Type
Retail
Closing
Apr 16, 2026
About this deal
AI
The property asset involved in the transaction is a retail location situated at 3440 Wabash Avenue in Springfield. The deal transpired for a total price of $5,279,222, marking it as a premium-priced investment within a commercial corridor on the West Side.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $5,279,222
- Buyer: Realty Income Corporation
- Seller: La-Z-Boy Incorporated
This transaction illustrates the ongoing institutional interest in net-lease retail assets, with Realty Income Corporation representing a continued demand for long-term leases. The tenant is anticipated to remain in place following the ownership change, underscoring the appeal of this type of asset to investors.
On the Map
$5,279,222
Retail
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Players
Springfield Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.00%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93