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GILM LLC Acquires Monticello Retail Property For $3.3M
SOLD
$3,304,000
Minnesota
See Similar DealsRetail26,539 SF
Sold 08/03/2023
SOLD
GILM LLC Acquires Monticello Retail Property For $3.3M
542 Cedar Street Monticello, Minnesota 55362, USA
See Similar DealsRetail26,539 SF
Sold 08/03/2023
Summary
MINNESOTA
Asset Type:Retail
Price Per Square Foot:$124
Total Square Footage:26,539 SF
Transaction Type:Sale
Hillside Mall, a 26,539-square-foot retail center located at 542 Cedar Street in Monticello, Minnesota, has been sold for $3.3 million. The property, fully leased and situated in the Monticello market, was acquired by GILM LLC from Monticello Mall LLC. The transaction was facilitated by Mark Robinson and Amy Senn of Mid-America Real Estate Minnesota.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,304,000
- Square Footage: 26,539
- Price per Square Foot: $124
- Address: 542 Cedar Street, Monticello, Minnesota
- Market: Monticello, Minnesota
The sale of Hillside Mall for $3.3 million marks a significant transaction in the Monticello retail market. GILM LLC acquired the property from Monticello Mall LLC, with Mark Robinson and Amy Senn of Mid-America Real Estate Minnesota acting as the brokers in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$176,213.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,738.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,662.65
Annual Debt Service$187,951.75
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