Marissa Loa Acquires Retail Property In Saint Louis Park For $9.5M
SOLD
$9,495,000
Minnesota
See Similar Deals17,550 SF
Sold 06/24/2022
SOLD
Marissa Loa Acquires Retail Property In Saint Louis Park For $9.5M
7200 Cedar Lake Road
See Similar Deals17,550 SF
Sold 06/24/2022
Summary
MINNESOTA
Price Per Square Foot:$541
Total Square Footage:17,550 SF
Transaction Type:Sale
The retail property located at 7200 Cedar Lake Rd. in Saint Louis Park has been sold for a total of $9,495,000. The property spans a total area of 17,550 square feet, resulting in a price per square foot of $541.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,495,000
- Address: 7200 Cedar Lake Rd., Saint Louis Park
- Market: Saint Louis Park
The buyer of the property is Marissa Loa, while the seller is Larry Hoffberg. The transaction was facilitated by brokers Leor Binshtock and Jake Zacuto, who both represented the Zacuto Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$506,400.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$33,733.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,011.14
Annual Debt Service$540,133.73
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