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Marcus & Millichap Facilitates $1.5M Sale Of Former Walgreens In Fort Wayne
SOLD
$1,500,000
Indiana
See Similar DealsRetail
Sold 06/14/2024
SOLD
Marcus & Millichap Facilitates $1.5M Sale Of Former Walgreens In Fort Wayne
1701 East Paulding Road
See Similar DealsRetail
Sold 06/14/2024
Summary
INDIANA
Asset Type:Retail
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$79,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,329.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,110.77
Annual Debt Service$85,329.18
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