Craft Enterprise LLC Acquires Retail Property From Seller's Rep Michael Matter In Raymond
512 S O'Bannon St, Raymond, IL, 62560
$1,100,000
$121/SF
Building Size
9,026 SF
Asset Type
Retail
Closing
Nov 22, 2023
About this deal
AI
The retail property located at 512 S O'Bannon St in Raymond, IL, consisting of 9,026 square feet, was sold for $1,100,000. Dollar General is the current occupant of this property, which was built in 2014. The sale was facilitated by Michael Matter of Stan Johnson Co. The buyer, Craft Enterprise LLC, a Kansas-based private investor, completed a 1031 tax-deferred exchange in this transaction.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,100,000.00
- Address: 512 S O'Bannon St, Raymond, IL, 62560
- Market: Raymond
- Seller's Representative: Michael Matter (Stan Johnson Co)
- Buyer: Craft Enterprise LLC
- Square Footage: 9,026
The sale of the retail property was brokered by Mike Matter from Stan Johnson Co. Both the seller and the buyer engaged in 1031 tax-deferred exchanges. Craft Enterprise LLC, the purchaser, is a Kansas-based private investor. The property, with approximately nine years remaining on an absolute triple net lease, attracted the attention of buyers and sellers in this transaction.
On the Map
$1,100,000
$121/SF
Retail
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Players
Raymond 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
14.42%
Cash-on-Cash
-4.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93