Agree Stores LLC Acquires Property From Syracuse Grocery ST LLC For $7.9M In Syracuse
1625 Erie BLVD E, Syracuse, NY, 13210
$7,900,000
$217/SF
Building Size
36,360 SF
Asset Type
Retail
Closing
Nov 19, 2023
AI
A grocery store located at 1625 Erie Blvd E, Syracuse, NY, was sold for $7,900,000.00. The property spans 36,360 square feet and was fully leased to New Jersey-based grocer PriceRite at the time of the transaction. The market for this sale is Syracuse.
Summary of transaction details:
- Property Type: Grocery Store
- Transaction Amount: $7,900,000.00
- Address: 1625 Erie BLVD E, Syracuse, NY, 13210
- Square Footage: 36,360
- Buyer: Agree Stores LLC
- Seller: Syracuse Grocery ST LLC
- Buyer's Representative: El Warner - Colliers International
- Seller's Representative: El Warner - Colliers International
El Warner of Colliers International represented both the buyer, Agree Stores LLC, and the seller, Syracuse Grocery ST LLC, during this transaction. This highlights the involvement of the brokerage in facilitating the deal.
Players
Syracuse Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.01%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93