SCG Retail Acquires Retail Property In North Tonawanda For $20.75M
315 Meadow Drive
$20,750,000
$98/SF
Building Size
210,081 SF
Asset Type
Retail
Closing
Aug 18, 2023
AI
A retail property located at 315 Meadow Drive in North Tonawanda has been sold for a price of $20,750,000. The property spans across 210,081 square feet, resulting in a price per square foot of $99.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $20,750,000
- Address: 315 Meadow Drive, North Tonawanda, NY
- Market: North Tonawanda
- Buyer: SCG Retail
- Brokers: Michael Cleeman & Samuel Seelenfreund - Cleeman Realty Group
Michael Cleeman and Samuel Seelenfreund, representing Cleeman Realty Group, facilitated the sale of the property on behalf of SCG Retail. They played a crucial role in the transaction, ensuring a successful deal between the buyer and seller.
Players
North Tonawanda 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
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93