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Halle Properties LLC Acquires Former Big-O-Tire Building In Cottage Grove For $2.55M
SOLD
$2,550,000
Minnesota
See Similar DealsRetail20,386 SF
Sold 12/12/2023
SOLD
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
See Similar DealsRetail20,386 SF
Sold 12/12/2023
Summary
MINNESOTA
Asset Type:Retail
Price Per Square Foot:$125
Total Square Footage:20,386 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$136,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,059.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,088.30
Annual Debt Service$145,059.61
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