Danny Betesh & Joe Betesh Of Premier Retail Equities Purchase Retail Property In Cicero For $8M
7785 Frontage Road & 7700 Frontage Road
$8,000,000
$24/SF
Building Size
330,450 SF
Asset Type
Retail
Closing
Mar 7, 2024
AI
The property involved in the transaction is a retail asset located at 7785 Frontage Road & 7700 Frontage Road in Cicero. The sale price for this property was $8,000,000 with a total square footage of 165,225 and a price per square foot of $48.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $8,000,000
- Buyer: Danny Betesh & Joe Betesh - Premier Retail Equities
- Seller: Not mentioned
- Broker: Michael Cleeman - Cleeman Realty Group
- Market: Cicero
- NOTE: Premier Retail Equities is actively acquiring value-add shopping centers throughout the country. Send deals to [email protected]
Michael Cleeman of Cleeman Realty Group represented the buyer, Danny Betesh & Joe Betesh of Premier Retail Equities, in this transaction. Premier Retail Equities focuses on acquiring value-add shopping centers across the United States, as indicated by the note provided by the buyers.
Cicero 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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93