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:
- Property Type: Retail
- Transaction Amount: $4,600,000
- Address: Lenox Square Shopping Center
- Market: Richmond, Michigan
- Square Footage: 95,722
- Price per Square Foot: $48
- Brokers: Jacob Baruch & Jonah Warshaw - Legacy Realty Group Advisors
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
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