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RCG Ventures LLC Purchases Retail Asset From Continental Realty Corporation For $25.6 Million In Troy MI

Property Image
SOLD
$25,600,000
Ben Wineman
DS

Michigan

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Retail167,000 SF
Sold 12/09/2024
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Property Image
SOLD

RCG Ventures LLC Purchases Retail Asset From Continental Realty Corporation For $25.6 Million In Troy MI

372 John R Road

See Similar Deals
Retail167,000 SF
Sold 12/09/2024
Ben Wineman
DS
the dealplayerscompscontact
Contact now

Summary

MICHIGAN
Asset Type:Retail
Price Per Square Foot:$153
Total Square Footage:167,000 SF
Transaction Type:Sale

The property asset involved in this transaction is a retail space located at 372 John R Road in Troy, MI. The sale price for this asset was $25,600,000, with a total square footage of 167,000, which results in a price per square foot of $153.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $25,600,000
  • Address: 372 John R Road
  • Market: Troy, MI
  • Square Footage: 167,000
  • Price Per Square Foot: $153
  • Buyer: RCG Ventures, LLC
  • Seller: Continental Realty Corporation
  • Brokers: Ben Wineman & Daniel Stern - Mid-America Real Estate Group

Key individuals involved in the deal include the buyer, RCG Ventures, LLC, and the seller, Continental Realty Corporation. The transaction was facilitated by brokers Ben Wineman and Daniel Stern, representing the parties through Mid-America Real Estate Group.

Players

Ben Wineman
Mid-America Real Estate Group
Ben Wineman
11 deals$260.1M volume(630) 954-7336
BROKER
DS
Mid-America Real Estate Group
Daniel Stern
2 deals$36.3M volume
BROKER

Details

SOLD
IMAGE: Ben Wineman & Daniel Stern DATE: 12/09/2024 ADDRESS: 372 John R Road MARKET: Troy, MI ASSET TYPE: Retail BUYER: RCG Ventures, LLC (@RCGventures) SELLER: Continental Realty Corporation (@CRCRealty) BROKERS: Ben Wineman & Daniel Stern - Mid-America Real Estate Group (@MidAmerica_RE) SALE PRICE: $25,600,000 SF: 167,000 ~ PPSF: $153

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,365,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$90,951.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$121,357.06
Annual Debt Service$1,456,284.73