Daily limit: 0/10
Marcus & Millichap Facilitates $5.4M Sale Of Van Buren Plaza In Belleville, MI
SOLD
$5,400,000
Michigan
See Similar DealsRetail43,765 SF
Sold 02/01/2024
SOLD
Marcus & Millichap Facilitates $5.4M Sale Of Van Buren Plaza In Belleville, MI
11824 Belleville Road
See Similar DealsRetail43,765 SF
Sold 02/01/2024
Summary
MICHIGAN
Asset Type:Retail
Price Per Square Foot:$123
Total Square Footage:43,765 SF
Transaction Type:Sale
The $5.4 million transaction for Van Buren Plaza in Belleville, a southwest suburb of Detroit, was facilitated by Marcus & Millichap. The retail center, located at 11824 Belleville Road, spans 43,765 square feet and achieved a 94 percent occupancy rate at the time of sale. It boasts a diverse tenant mix of local, regional, and national businesses.
Summary of transaction details
- Asset Type: Retail
- Sale Price: $5,400,000
- Square Footage: 43,765
- Price Per Square Foot: $123
- Market: Van Buren Township, MI
Alex Perez & Chris Garavaglia, representing Marcus & Millichap, played a crucial role as brokers in the deal.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$288,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,185.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,598.75
Annual Debt Service$307,185.06
Is there something missing? Send suggestions