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Timber Development Corp Sells Super Center Square Retail Center In New Ulm For $4.1M With CBRE Brokers AJ Prins & Sean Doyle
SOLD
$4,100,000
Minnesota
See Similar DealsRetail40,700 SF
Sold 07/06/2023
SOLD
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
See Similar DealsRetail40,700 SF
Sold 07/06/2023
Summary
MINNESOTA
Asset Type:Retail
Price Per Square Foot:$100
Total Square Footage:40,700 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$218,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,566.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,436.09
Annual Debt Service$233,233.10
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