Bingjie Lian Qiong Lin Jianjing Wu Acquire Retail Property In Horn Lake For $2.75M
SOLD
$2,750,000
Mississippi
See Similar DealsRetail5,916 SF
Sold 08/12/2024
SOLD
Bingjie Lian Qiong Lin Jianjing Wu Acquire Retail Property In Horn Lake For $2.75M
749 Goodman Road West
See Similar DealsRetail5,916 SF
Sold 08/12/2024
Summary
MISSISSIPPI
Asset Type:Retail
Price Per Square Foot:$464
Total Square Footage:5,916 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$146,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,770.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,036.40
Annual Debt Service$156,436.84
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