Kohan Retail Investment Group Acquires Retail Property In Cedar Rapids, IA For $28.5M
4444 1st Avenue Northeast Cedar Rapids, Iowa 52402, USA
$28,500,000
$389/SF
Building Size
73,266 SF
Asset Type
Retail
Closing
May 21, 2023
About this deal
AI
The retail property located at 4444 1st Avenue Northeast in Cedar Rapids, IA, has been sold. The transaction took place on 05/21/2023, with a sale price of $28,500,000. The property spans approximately 732,666 square feet, resulting in a price per square foot of $39.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $28,500,000
- Square Footage: 732,666
- Price per Square Foot: $39
- Market: Cedar Rapids, IA
The buyer in this transaction is Kohan Retail Investment Group, a reputable investment group specializing in retail properties.
Players
Cedar Rapids 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
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93