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
About this deal
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.
On the Map
$1,500,000
Retail
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Players
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