West Coast 7-Elevens LLC Purchases Retail Properties From Petrakis Properties For $1.52M
900 Cass Avenue & 3543 Old Kawkawlin Road
$1,520,000
$140/SF
Building Size
10,840 SF
Asset Type
Retail
Closing
Mar 31, 2025
AI
The transaction involved a retail asset located at 900 Cass Avenue & 3543 Old Kawkawlin Road in Bay City, MI. This property encompasses 1.49 acres with a total square footage of 5,420. The sale price for the property amounted to $1,520,000, translating to a price per square foot of $280.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,520,000
- Sale Date: 03/31/2025
- Buyer: West Coast 7-Elevens LLC
- Seller: Petrakis Properties
- Brokers: Adam Silber & Dylan Silber - Silber Investment Properties
- Cap Rate: 6.25%
Petrakis Properties executed the sale of two Michigan retail properties that are leased to 7-Eleven. Dylan Silber represented the buyer, West Coast 7-Elevens LLC, while Adam Silber represented the seller in this transaction.
Players
Bay City 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
10.44%
Cash-on-Cash
-2.98%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93