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
About this deal
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.
On the Map
$1,800,000
$608/SF
Retail
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Players
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