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CTO Realty Growth Sells Eastern Commons Shopping Center In Henderson For $18.2M
SOLD
$18,200,000
Nevada
See Similar DealsRetail129,600 SF
Sold 11/28/2023
SOLD
CTO Realty Growth Sells Eastern Commons Shopping Center In Henderson For $18.2M
10575 South Eastern Avenue
See Similar DealsRetail129,600 SF
Sold 11/28/2023
Summary
NEVADA
Asset Type:Retail
Price Per Square Foot:$140
Total Square Footage:129,600 SF
Transaction Type:Sale
The property asset involved in this transaction is a retail space located at 10575 South Eastern Avenue in Henderson. The asset, known as the Eastern Commons shopping center, encompasses a square footage of 129,600 and has been sold for a transaction amount of $18,200,000, equating to a price per square foot of $140.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $18,200,000
- Square Footage: 129,600
- Address: 10575 South Eastern Avenue
- Market: Henderson
- Seller: CTO Realty Growth
- Seller's Representative: John P. Albright
CTO Realty Growth has executed this sale with the intention of utilizing the proceeds for a 1031-exchange transaction. The identity of the buyer remains undisclosed, contributing to the confidentiality surrounding this real estate deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$970,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$64,660.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$86,277.29
Annual Debt Service$1,035,327.42
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