Bingjie Lian Qiong Lin Jianjing Wu Acquire Retail Property In Horn Lake For $2.75M
749 Goodman Road West
$2,750,000
$464/SF
Building Size
5,916 SF
Asset Type
Retail
Closing
Aug 12, 2024
AI
The property asset involved in the transaction is a retail space located at 749 Goodman Road West in Horn Lake. The sale price of the property was $2,750,000, covering an area of approximately 5,916 square feet, which equates to a price per square foot of $464.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,750,000
- Address: 749 Goodman Road West
- Market: Horn Lake
- Square Footage: 5,916
- Price Per Square Foot: $464
- Buyer: Bingjie Lian, Qiong Lin & Jianjing Wu
- Seller: Eddie & Alicia Surkin
- Buyer's Representative: Yu-Chi Chou - Adaro
- Seller's Representative: Eric Mandell - Ally Commercial Real Estate
- Tenant's Representative: Robert Sloan - TSCG
The transaction involved multiple representatives, with Yu-Chi Chou representing the buyers, and Eric Mandell representing the sellers. Additionally, Robert Sloan acted as the tenant's representative. The deal highlights the engagement of experienced professionals in facilitating the retail property transaction.
Horn Lake 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
5.77%
Cash-on-Cash
-1.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93