TDM Partners LLC Sells Retail Property Leased To Starbucks And T-Mobile For $2M
4678 Red Arrow Highway
$2,000,000
$439/SF
Building Size
4,556 SF
Asset Type
Retail
Closing
Nov 11, 2024
About this deal
AI
A retail property located at 4678 Red Arrow Highway in Stevensville, MI has been sold. The asset encompasses 4,556 square feet and was sold for $2,000,000, equating to a price per square foot of approximately $439. The property was leased to tenants Starbucks and T-Mobile.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,000,000
- Sale Date: 11/11/2024
- Square Feet: 4,556
- Price per Square Foot: $439
- Seller: TDM Partners LLC
- Buyer's Representative: Chris Prins - DAR Commercial Real Estate
- Seller's Representative: John Nuzman - Marcus & Millichap
John Nuzman successfully represented TDM Partners LLC, while Chris Prins acted on behalf of the local buyer in this transaction. The deal closed at 97% of the list price, facilitated by Marcus & Millichap.
Players
Stevensville 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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93