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4248 Cherry Pepsi Way, Trav...

Matthews Real Estate Investment Services Sells Industrial Property In Traverse City, Michigan For $5.6M
SOLDIndustrial

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

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

Alexander Harrold

Matthews

Broker

$93.7M

vol

9 deals

Broker

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