Marcus & Millichap Sells Retail Property In Eden Prairie, Minnesota For $2.275M
7711 Mitchell Road,Eden Prairie, Minnesota
$2,275,000
$274/SF
Building Size
8,276 SF
Asset Type
Retail
Closing
Feb 23, 2023
AI
The retail property located at 7711 Mitchell Road in Eden Prairie, Minnesota has been sold in a recent transaction. The property spans 8,276 square feet and was sold for a total price of $2,275,000, resulting in a price per square foot of $274. The deal was facilitated by brokers Tom Gommels, Alvin N. Mansour, and Sam Liberow from Marcus & Millichap.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,275,000
- Square Footage: 8,276
- Price per Square Foot: $274
- Address: 7711 Mitchell Road, Eden Prairie, Minnesota
- Market: Eden Prairie, Minnesota
- Brokers: Tom Gommels, Alvin N. Mansour, and Sam Liberow - Marcus & Millichap
The involvement of Tom Gommels, Alvin N. Mansour, and Sam Liberow from Marcus & Millichap was instrumental in facilitating this successful transaction. Their expertise in the retail market and their representation of the buyer and seller proved valuable in ensuring a smooth and efficient deal process.
Players
Eden Prairie 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
6.97%
Cash-on-Cash
-1.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93