SCG Retail Acquires Retail Property In North Tonawanda For $20.75M
SOLD
$20,750,000
New York
See Similar DealsRetail210,081 SF
Sold 08/18/2023
SOLD
SCG Retail Acquires Retail Property In North Tonawanda For $20.75M
315 Meadow Drive
See Similar DealsRetail210,081 SF
Sold 08/18/2023
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$98
Total Square Footage:210,081 SF
Transaction Type:Sale
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
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,106,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$73,720.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$98,365.59
Annual Debt Service$1,180,387.03
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