Ridge Kent Acquires Retail Property In Carmel, IN For $1.8M
SOLD
$1,800,000
Indiana
See Similar DealsRetail2,959 SF
Sold 02/03/2021
SOLD
Ridge Kent Acquires Retail Property In Carmel, IN For $1.8M
9853 North Michigan Road, Carmel, IN, USA
See Similar DealsRetail2,959 SF
Sold 02/03/2021
Summary
INDIANA
Asset Type:Retail
Price Per Square Foot:$608
Total Square Footage:2,959 SF
Transaction Type:Sale
Located at 9853 N. Michigan Road in Carmel, IN, this retail property was recently sold on February 3, 2021. The property spans a total of 2,959 square feet and was purchased for $1,800,000, resulting in a price per square foot of $608. The transaction involved the buyer, Ridge Kent, and the seller, MVSA Investments LLC.
Summary of Transaction Details
- Property Type: Retail
- Transaction Amount: $1,800,000
- Address: 9853 N. Michigan Road, Carmel, IN
- Market: Carmel, IN
- Buyer: Ridge Kent
- Seller: MVSA Investments LLC
- Brokers: David Klink & Jordan Klink - The Klink Group - Marcus & Millichap
The deal was facilitated by the brokerage team of David Klink and Jordan Klink from The Klink Group at Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$96,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,395.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,532.92
Annual Debt Service$102,395.02
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