Halle Properties LLC Acquires Former Big-O-Tire Building In Cottage Grove For $2.55M
8647 East Point Douglas Road South & 8649 East Point Douglas Road South
$2,550,000
$125/SF
Building Size
20,386 SF
Asset Type
Retail
Closing
Dec 12, 2023
AI
An entity connected to Discount Tire has purchased a former Big-O-Tire vehicle repair shop in Cottage Grove for $2.55 million. The 10,193-square-foot retail building, located at 8647 and 8649 E. Point Douglas Road S. in Cottage Grove, MN, was sold by TBC Retail Holdings to Halle Properties LLC. The transaction was facilitated by brokers Jim Rock and Suzanne Schefcik of Avison Young.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,550,000
- Square Footage: 10,193
An entity connected to Discount Tire, Halle Properties LLC of Scottsdale, Arizona, has acquired a former Big-O-Tire vehicle repair shop in Cottage Grove, MN. The property, located at 8647 and 8649 E. Point Douglas Road S., spans 10,193 square feet and was sold by TBC Retail Holdings for a price of $2,550,000. The transaction was facilitated by Jim Rock and Suzanne Schefcik of Avison Young.
Players
Cottage Grove Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.22%
Cash-on-Cash
-1.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93