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Richmond, Michigan

Legacy Realty Group Advisors Facilitates $4.6M Sale Of Lenox Square Shopping Center
SOLDRetail

Legacy Realty Group Advisors Facilitates $4.6M Sale Of Lenox Square Shopping Center

$4,600,000

$48/SF

Building Size

95,722 SF

Asset Type

Retail

Closing

May 22, 2024

AI

The Lenox Square Shopping Center in Richmond, Michigan, was sold for $4.6 million. The retail property spans 95,722 square feet and was the subject of the transaction facilitated by Legacy Realty Group Advisors. The anchor tenant at the shopping center is Family Farm and Home.

Summary of transaction details:

Jacob Baruch and Jonah Warshaw of Legacy Realty Group Advisors served as the representatives for both the buyer and seller in the $4.6 million transaction involving the Lenox Square Shopping Center. The deal underscores the pivotal role played by these professionals in bringing the transaction to fruition.

Players

Jacob Baruch

Legacy Realty Group Advisors

Broker

$551.8M

vol

39 deals

Broker

Market 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

3.45%

Cash-on-Cash

-0.99%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93