SRS Real Estate Partners Acquires Retail Property In LaPlace For $8.9M
1830 West Airline Highway, LaPlace, LA, USA
$8,900,000
$142/SF
Building Size
62,297 SF
Asset Type
Retail
Closing
May 11, 2021
About this deal
AI
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.
Players
La Place 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
1.78%
Cash-on-Cash
-0.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93