Fakhouri Real Estate Acquires Retail Property At 6551 South Cass Avenue For $2.3M
6551 South Cass Avenue
$2,300,000
$142/SF
Building Size
16,100 SF
Asset Type
Retail
Closing
Nov 16, 2023
AI
The property involved in this transaction is a retail asset located at 6551 South Cass Avenue in Westmont. The sale price was $2,300,000, and the total square footage of the retail space is 16,100, which translates to a price per square foot of $142.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,300,000
- Address: 6551 South Cass Avenue
- Market: Westmont
- Square Footage: 16,100
- Price Per Square Foot: $142
- Buyer: Fakhouri Real Estate
- Seller: Javeed Akhter
- Buyer's Representative: Jonathan Fakhouri - Fakhouri Real Estate LLC
In this transaction, Fakhouri Real Estate, represented by Jonathan Fakhouri from Fakhouri Real Estate LLC, acquired the retail property from seller Javeed Akhter. The deal reflects an engagement between the buyer and the seller facilitated by their representatives.
Players
Market 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
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93