SRS Real Estate Partners Acquires Retail Property In LaPlace For $8.9M
SOLD
$8,900,000
Louisiana
See Similar DealsRetail62,297 SF
Sold 05/12/2021
SOLD
SRS Real Estate Partners Acquires Retail Property In LaPlace For $8.9M
1830 West Airline Highway, LaPlace, LA, USA
See Similar DealsRetail62,297 SF
Sold 05/12/2021
Summary
LOUISIANA
Asset Type:Retail
Price Per Square Foot:$142
Total Square Footage:62,297 SF
Transaction Type:Sale
Located at 1830 W. Airline Highway in LaPlace, this retail property was recently sold for a transaction amount of $8,900,000. The property spans a total of 62,297 square feet, resulting in a price per square foot of $142. The sale was facilitated by Sean Lutz and Dan Elliot of the National Net Lease Group, who represent SRS Real Estate Partners.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $8,900,000
- Property Size: 62,297 square feet
- Price per Square Foot: $142
Sean Lutz and Dan Elliot, both brokers from the National Net Lease Group representing SRS Real Estate Partners, played a key role in the successful sale of this retail property in LaPlace. Their expertise and negotiation skills contributed to the transaction's favorable outcome.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$474,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,619.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,190.54
Annual Debt Service$506,286.49
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