JADT Development Group Acquires Former Burger King Site In Minneapolis For $1.15M
3342 Nicollet Avenue South
$1,150,000
Building Size
—
Asset Type
Retail
Closing
Dec 18, 2023
About this deal
AI
JADT Development Group, led by founder and CEO Tim Baylor, has purchased the site of a former Burger King in South Minneapolis for $1.15 million. The retail property located at 3342 Nicollet Avenue South offers a prime location for commercial activities. The transaction was completed on December 18, 2023.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,150,000
- Address: 3342 Nicollet Avenue South, Minneapolis, MN
- Market: Minneapolis, MN
Tim Baylor, the buyer and representative of JADT Development Group, made the acquisition through purchasing the property from Arjun Investments Inc. David Daly from CBRE acted as the buyer's representative, and D.J. Sikka from Restaurant Brokers represented the seller.
On the Map
$1,150,000
Retail
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Players
Minneapolis 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
13.79%
Cash-on-Cash
-3.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93