Updated Sep 9, 2024
Matthews Real Estate Investment Services Sells Industrial Property In Traverse City, Michigan For $5.6M
4248 Cherry Pepsi Way, Traverse City, MI 4968
$5,600,000
$175,000/SF
Building Size
32 SF
Asset Type
Industrial
Closing
Dec 21, 2022
About this deal
AI
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.
Players
Traverse City Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.83%
Cash-on-Cash
-0.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93