Slate Grocery REIT Acquires Retail Property In Indianapolis For $8.5M
SOLD
$8,500,000
Indiana
See Similar DealsRetail104,679 SF
Sold 07/19/2020
SOLD
Slate Grocery REIT Acquires Retail Property In Indianapolis For $8.5M
2629 E 65th St, Indianapolis, IN, USA
See Similar DealsRetail104,679 SF
Sold 07/19/2020
Summary
INDIANA
Asset Type:Retail
Price Per Square Foot:$81
Total Square Footage:104,679 SF
Transaction Type:Sale
The retail property located at 2629 E 65th St in Indianapolis has been sold for a price of $8,500,000. The property spans a total square footage of 104,679, resulting in a price per square foot of $81. The sale took place on July 19, 2021.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $8,500,000
The buyer of the property was Slate Grocery REIT, represented by David Dunn. Slate Grocery REIT is a prominent player in the commercial real estate market. Their involvement in this transaction highlights their continued investment in the retail sector in Indianapolis.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$453,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,198.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,294.34
Annual Debt Service$483,532.04
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