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1701 East Paulding Road

Marcus & Millichap Facilitates $1.5M Sale Of Former Walgreens In Fort Wayne
SOLDRetail

Marcus & Millichap Facilitates $1.5M Sale Of Former Walgreens In Fort Wayne

1701 East Paulding Road

$1,500,000

Building Size

Asset Type

Retail

Closing

Jun 14, 2024

AI

The retail building previously occupied by Walgreens in Fort Wayne, located at 1701 E. Paulding Road, was sold for $1.5 million in a transaction facilitated by Marcus & Millichap. The buyer and seller, each represented by limited liability companies, closed the deal on June 14, 2024.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $1,500,000
  • Address: 1701 East Paulding Road
  • Market: Fort Wayne, IN

David Klink and Jordan Klink from Marcus & Millichap played crucial roles as the brokers in the sale of the retail property. Both the buyer and seller were represented by these brokers, overseeing the transaction of the retail building that was once occupied by Walgreens.

Players

Jordan Klink

Marcus & Millichap

Broker

$14.4M

vol

6 deals

Broker

Fort Wayne 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

10.58%

Cash-on-Cash

-3.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93