Matthews Real Estate Investment Services Sells Industrial Property In Traverse City, Michigan For $5.6M
SOLD
$5,600,000
Michigan
See Similar DealsIndustrial32 SF
Sold 12/21/2022
SOLD
Matthews Real Estate Investment Services Sells Industrial Property In Traverse City, Michigan For $5.6M
4248 Cherry Pepsi Way, Traverse City, MI 4968
See Similar DealsIndustrial32 SF
Sold 12/21/2022
Summary
MICHIGAN
Asset Type:Industrial
Price Per Square Foot:$175,000
Total Square Footage:32 SF
Transaction Type:Sale
Located at 4248 Cherry Pepsi Way in Traverse City, Michigan, this industrial property was recently sold in a closed transaction. The property spans 32,100 square feet and was sold for a price of $5,600,000, resulting in a price per square foot of $174. The sale took place on 12/21/2022.
Summary of transaction details:
- Property Type: Industrial
- Sale Price: $5,600,000
- Square Footage: 32,100
- Price per Square Foot: $174
- Address: 4248 Cherry Pepsi Way
- Market: Traverse City, Michigan
The deal for this property was brokered by Brett Davis and Alexander Harrold from Matthews Real Estate Investment Services. They represented the parties involved in the transaction, ensuring a smooth and successful sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$298,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,895.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,546.86
Annual Debt Service$318,562.28
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