Patrick Lockman Acquires Retail Property In St. Louis For $13.53M
SOLD
$13,525,000
Missouri
See Similar DealsRetail297,257 SF
Sold 05/24/2024
SOLD
Patrick Lockman Acquires Retail Property In St. Louis For $13.53M
74 Grandview Plaza Shopping Ctr
See Similar DealsRetail297,257 SF
Sold 05/24/2024
Summary
MISSOURI
Asset Type:Retail
Price Per Square Foot:$45
Total Square Footage:297,257 SF
Transaction Type:Sale
The retail property located at 74 Grandview Plaza Shopping Center in St. Louis has been sold for $13,525,000. The asset spans 297,257 square feet, resulting in a price per square foot of $45.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $13,525,000
- Address: 74 Grandview Plaza Shopping Center
- Market: St. Louis
Patrick Lockman of MA Real Estate acquired the property from Sean Namvar. Representing the buyer in this transaction were Daniel Baruch, Ari Warshaw, and Jonah Warshaw of Legacy Realty Group Advisors.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$721,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$48,051.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$64,115.40
Annual Debt Service$769,384.80
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