Nassimi Realty Acquires Two Retail Centers In Ohio And Illinois For $30M
8203 Golf Road & 4908 Turney Road
$30,000,000
$30/SF
Building Size
500,000 SF
Asset Type
Retail
Closing
Nov 6, 2023
About this deal
AI
Nassimi Realty has acquired two retail centers in Ohio and Illinois for $30 million. The properties, Turney Town Plaza in Ohio and Four Flaggs in Illinois, total 500,000 square feet. The retail centers feature various well-known tenants.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $30,000,000
- Square Footage: 500,000
- Price per Square Foot: $60
- Address: 8203 Golf Road & 4908 Turney Road
- Market: Niles, Illinois & Garfield Heights, Ohio
The buyer, representing Nassimi Realty, is Mike Nassimi.
The retail sale at 8203 Golf Road in Niles, Illinois sold for $30M in 2023. The building is 1,000,000 square feet, implying about 30 per square foot on the published price. Named participants on the 8203 Golf Road sale are Mike Nassimi. This page is the Niles, Illinois file for the 8203 Golf Road retail sold: pricing, party profiles, and other closed retail comps from the same Niles sit in the Market section below. Filter that Niles retail set by closing date to see what else sold near 8203 Golf Road around 2023. Published consideration for 8203 Golf Road is $30M, dated 2023. Cite this Nassimi Realty Acquires Two Retail Centers In Ohio And Illinois For $30M sale when underwriting similar retail product around Niles, Illinois.
On the Map
$30,000,000
$30/SF
Retail
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Players
Niles 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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93