Continental Realty Corporation Acquires Retail Properties In Troy, Michigan For $34M
318 John R Road, Troy, MI, USA
$34,000,000
$86/SF
Building Size
392,000 SF
Asset Type
Retail
Closing
Oct 7, 2021
AI
The retail property located at 318 John R Road and 372 John R Road in Troy, Michigan has been sold for a price of $34,000,000. The property spans a total area of 392,000 square feet, resulting in a price per square foot of $87. This sale was completed on 10/07/2021 and was facilitated by brokers Amy Sands and Clinton Mitchell from JLL.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $34,000,000
- Address: 318 John R Road & 372 John R Road, Troy, Michigan
- Square Footage: 392,000 SF
- Price per Square Foot: $87
- Market: Troy, Michigan
The buyer of the property was Continental Realty Corporation (CRC) represented by their representative, Josh Dinstein. The acquisition was made possible through the dedicated efforts of brokers Amy Sands and Clinton Mitchell from JLL.
Players
Troy Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.47%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93