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Lincoln Crossing LLC Acquires Retail Strip From Lincoln Crossing LLP In Fergus Falls For $2.9M
SOLD
$2,900,000
+ 2
Minnesota
See Similar DealsRetail
Sold 01/22/2025
SOLD
Lincoln Crossing LLC Acquires Retail Strip From Lincoln Crossing LLP In Fergus Falls For $2.9M
2304 College Way
See Similar DealsRetail
Sold 01/22/2025
+ 2
Summary
MINNESOTA
Asset Type:Retail
Transaction Type:Sale
The property asset involved in this transaction is a fully occupied five-suite retail strip located at 2304 College Way in Fergus Falls, Minnesota. The asset encompasses 1.43 acres and was sold for a total price of $2,900,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,900,000
- Buyer: Lincoln Crossing LLC
- Seller: Lincoln Crossing LLP
- Market: Fergus Falls, MN
- Brokerage: Marcus & Millichap
- Broker Representatives: Chris Collins, Eric Wagner, Jack Mahler, Jeff R. Rowlett & Zack Olson
The transaction was facilitated by a team of investment specialists from Marcus & Millichap, which attracted multiple competitive offers, indicating heightened interest from selective buyers in the current market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$154,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,303.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,747.48
Annual Debt Service$164,969.75
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