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Wills Group Acquires Retail Property In Columbia, MD For $5.65M
SOLD
$5,650,000
Maryland
See Similar DealsRetail23,391 SF
Sold 01/01/2024
SOLD
Wills Group Acquires Retail Property In Columbia, MD For $5.65M
6405 Dobbin Center Way, 6415 Dobbin Center Way & 6425 Dobbin Center Way
See Similar DealsRetail23,391 SF
Sold 01/01/2024
Summary
MARYLAND
Asset Type:Retail
Price Per Square Foot:$241
Total Square Footage:23,391 SF
Transaction Type:Sale
Marcus & Millichap announced the sale of 6405, 6415, and 6425 Dobbin Center Way, a 7,797-square-foot retail property in Columbia, Maryland. The property was sold for $5,650,000, with a price per square foot of $725.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $5,650,000
- Square Footage: 7,797
- Address: 6405, 6415 & 6425 Dobbin Center Way, Columbia, MD
- Market: Columbia, MD
The buyer in the transaction was Matt Wilcox of Wills Group. The brokers representing the buyer and seller were David Crotts and Dean Zang of Institutional Property Advisors.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$301,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,073.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,783.88
Annual Debt Service$321,406.59
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