BIG Shopping Centers USA Sells Retail Property In Gaithersburg, MD For $24.5M
SOLD
$24,500,000
Maryland
See Similar DealsRetail70,639 SF
Sold 06/27/2022
SOLD
BIG Shopping Centers USA Sells Retail Property In Gaithersburg, MD For $24.5M
300 North Frederick Avenue, Gaithersburg, Maryland 20877, United States
See Similar DealsRetail70,639 SF
Sold 06/27/2022
Summary
MARYLAND
Asset Type:Retail
Price Per Square Foot:$346
Total Square Footage:70,639 SF
Transaction Type:Sale
The retail property located at 300 N Frederick Ave in Gaithersburg, MD has been sold for a total price of $24,500,000. The property spans a total area of 70,639 square feet, resulting in a price per square foot of $347. The seller of the property was BIG Shopping Centers USA.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $24,500,000
- Address: 300 N Frederick Ave, Gaithersburg, MD
- Market: Gaithersburg, MD
- Square Footage: 70,639
- Price per Square Foot: $347
The sale of this retail property was handled by broker representatives David Crotts, Josh Ein, and Dean Zang from Institutional Property Advisors.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,306,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$87,043.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$116,142.50
Annual Debt Service$1,393,709.99
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