Marcus & Millichap Sells Gaithersburg Citgo Retail Property For $2.5M
401 East Diamond Avenue & 409 East Diamond Avenue
$2,500,000
$498/SF
Building Size
2,506 SF
Asset Type
Retail
Closing
Sep 13, 2023
About this deal
AI
The Gaithersburg Citgo| Daytona Auto Care, a 2,506-square-foot retail property located at 401-409 East Diamond Avenue in Gaithersburg, Maryland, has been sold for $2.5 million. The property was purchased by Beroya LLC & East Diamond, LLC from Taris Investment LLC & Daytona Auto Care, LTD. The sale was facilitated by Dany Zhao of Marcus & Millichap, a prominent commercial real estate brokerage firm.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,500,000
- Address: 401-409 East Diamond Avenue, Gaithersburg, MD
- Market: Gaithersburg, MD
- Buyer: Beroya LLC & East Diamond, LLC
- Seller: Taris Investment LLC & Daytona Auto Care, LTD
- Broker: Dany Zhao - Marcus & Millichap
The sale price of $2.5 million translates to approximately $998 per square foot. This transaction represents the successful acquisition of the Gaithersburg Citgo| Daytona Auto Care property, highlighting the demand and robust real estate market in Gaithersburg, Maryland.
Players
Hazleton 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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93