Timber Development Corp Sells Super Center Square Retail Center In New Ulm For $4.1M With CBRE Brokers AJ Prins & Sean Doyle
1702 Westridge Road New Ulm, Minnesota 56073, USA
$4,100,000
$100/SF
Building Size
40,700 SF
Asset Type
Retail
Closing
Jul 6, 2023
AI
Timber Development Corp. has sold Super Center Square, a 40,700-square-foot retail center located at 1702 Westridge Road in New Ulm, Minnesota. The property was sold for $4.1 million to an undisclosed buyer. The sale price equates to approximately $101 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,100,000
- Address: 1702 Westridge Road
- Market: New Ulm, Minnesota
The sale of Super Center Square was facilitated by CBRE brokers AJ Prins and Sean Doyle. They represented Timber Development Corp. in the transaction.
Players
New Ulm 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
3.87%
Cash-on-Cash
-1.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93