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HBI Cos. Acquires Burnsville Retail Center From IRC Retail Centers For $7.025M
SOLD
$7,025,000
Minnesota
See Similar DealsRetail97,210 SF
Sold 04/09/2024
SOLD
HBI Cos. Acquires Burnsville Retail Center From IRC Retail Centers For $7.025M
14240 Plymouth Avenue
See Similar DealsRetail97,210 SF
Sold 04/09/2024
Summary
MINNESOTA
Asset Type:Retail
Price Per Square Foot:$72
Total Square Footage:97,210 SF
Transaction Type:Sale
Burnsville Crossing, a 97,210-square-foot retail center located near Burnsville Center, has been sold for $7.025 million. The property, situated at 14240-14290 Plymouth Avenue in Burnsville, Minnesota, features Becker Furniture World and PetSmart as anchor tenants.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,025,000
- Acres: 10.3
- Market: Burnsville, Minnesota
- Buyer: HBI Cos.
- Seller: IRC Retail Centers LLC
- Brokers: Amy Senn & Joe Girardi - Mid-America Real Estate Group
The acquisition of Burnsville Crossing was facilitated by HBI Cos., which purchased the property from IRC Retail Centers LLC through the representation of brokers Amy Senn and Joe Girardi from Mid-America Real Estate Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$374,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,958.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,302.08
Annual Debt Service$399,625.01
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