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9853 North Michigan Road, C...

Ridge Kent Acquires Retail Property In Carmel, IN For $1.8M
SOLDRetail

Ridge Kent Acquires Retail Property In Carmel, IN For $1.8M

9853 North Michigan Road, Carmel, IN, USA

$1,800,000

$608/SF

Building Size

2,959 SF

Asset Type

Retail

Closing

Feb 2, 2021

AI

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.

Players

Jordan Klink

Marcus & Millichap

Broker

$14.4M

vol

6 deals

Broker

Carmel 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

8.81%

Cash-on-Cash

-2.52%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93