Dong Koo Kim & Jong Ok Kim Acquire Retail Property In Las Vegas For $22.5M
SOLD
$22,500,000
Nevada
See Similar DealsRetail64,598 SF
Sold 10/18/2022
SOLD
Dong Koo Kim & Jong Ok Kim Acquire Retail Property In Las Vegas For $22.5M
601 Mall Ring Circle, Henderson, Nevada 89014, United States
See Similar DealsRetail64,598 SF
Sold 10/18/2022
Summary
NEVADA
Asset Type:Retail
Price Per Square Foot:$348
Total Square Footage:64,598 SF
Transaction Type:Sale
The retail property located at 601-617 Mall Ring Circle in Las Vegas, Nevada has been sold for a total price of $22,500,000. The property spans across 64,598 square feet, resulting in a price per square foot of $348. The transaction took place on October 18, 2022.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $22,500,000
- Address: 601-617 Mall Ring Circle, Las Vegas, Nevada
- Market: Las Vegas, Nevada
- Square Footage: 64,598
- Price per Square Foot: $348
The property was sold by PEBB Enterprises, represented by Ian Weiner. Dong Koo Kim and Jong Ok Kim were the buyers in this transaction. Jennifer Lee from Berkshire Hathaway Home Services Nevada acted as the buyer's representative, while Adam Malan and Deana Marcello from LOGIC Commercial Real Estate represented the seller.
Players
BROKERAGE
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,200,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$79,937.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$106,661.48
Annual Debt Service$1,279,937.75
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