Marcus & Millichap Facilitates $5.4M Sale Of Van Buren Plaza In Belleville, MI
11824 Belleville Road
$5,400,000
$123/SF
Building Size
43,765 SF
Asset Type
Retail
Closing
Feb 1, 2024
AI
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
Van Buren Township Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.94%
Cash-on-Cash
-0.84%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93