Berengaria Development Acquires Retail Property In Norton Shores, Michigan
5241 South Harvey Street, Norton Shores, Michigan 49444, United States
Building Size
333,329 SF
Asset Type
Retail
Closing
Mar 1, 2022
AI
Located at 5241 Harvey St in Norton Shores, Muskegon, Michigan, this retail property spans a total area of 333,329 square feet. The transaction took place on 03/02/2022.
Summary of transation details
- Property Type: Retail
- Transaction Amount: Not specified
The buyer of the property was Berengaria Development, while RCG Ventures LLC acted as the seller. The deal was facilitated by Ben Wineman and Daniel Stern from Mid-America Real Estate Corp.
Players
Norton Shores 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93