Barnes Development Company Acquires Retail Pad In Alsip For $1.8M
4839 West 111th Street Alsip, Illinois 60803, USA
$1,800,000
Building Size
—
Asset Type
Retail
Closing
Jun 19, 2023
About this deal
AI
The $1.8 million sale of a retail pad in Alsip, Illinois has been brokered by Lee & Associates of Illinois. The property, located at 4839 W. 111th Street, spans across 1.03 acres in the Alsip market. The buyer, Barnes Development Company, acquired the site from the seller, Orion Capital.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $1,800,000
- Address: 4839 W. 111th Street, Alsip
- Market: Alsip
- Acres: 1.03
Ryan Chopp from DRC Realty, LLC represented the buyer, Barnes Development Company, in the transaction. On the seller's side, Rick Scardino from Lee & Associates facilitated the sale on behalf of Orion Capital. It is worth noting that Belle Tire, an automotive retailer, will develop the site that was previously occupied by Bakers Square Restaurant.
Players
Alsip 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
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93