Belle Tire Distributors Acquires Retail Property In Hoffman Estates For $1M
59 Hoffman Boulevard
$1,000,000
Building Size
—
Asset Type
Retail
Closing
Feb 27, 2023
About this deal
AI
Belle Tire Distributors has acquired a retail property located at 59/90 Gateway, Route 59 & Hoffman Boulevard in Hoffman Estates. The property spans across 1.68 acres and was sold by Prairie Point Center Development, LLC for a sale price of $1,000,000.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $1,000,000
- Address: 59/90 Gateway, Route 59 & Hoffman Boulevard, Hoffman Estates
- Market: Hoffman Estates
- Acres: 1.68
- Buyer: Belle Tire Distributors
- Seller: Prairie Point Center Development, LLC
- Buyer's Representative: Dave Chopp - DRC Realty
- Seller's Representative: Rick Scardino - Lee & Associates
Dave Chopp from DRC Realty represented Belle Tire Distributors in the transaction, while Rick Scardino from Lee & Associates represented Prairie Point Center Development, LLC. The acquisition marks a significant investment by Belle Tire Distributors in the Hoffman Estates retail market.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93