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Danny Betesh & Joe Betesh Of Premier Retail Equities Purchase Retail Property In Cicero For $8M

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SOLD
$8,000,000

New York

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Retail330,450 SF
Sold 03/07/2024
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SOLD

Danny Betesh & Joe Betesh Of Premier Retail Equities Purchase Retail Property In Cicero For $8M

7785 Frontage Road & 7700 Frontage Road

See Similar Deals
Retail330,450 SF
Sold 03/07/2024
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$24
Total Square Footage:330,450 SF
Transaction Type:Sale

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:

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.

Players

Michael Cleeman
19 deals$185.6M volume
BROKER

Details

SOLD
IMAGE: Michael Cleeman, Danny Betesh & Joe Betesh DATE: 03/07/2024 ADDRESS: 7785 Frontage Road & 7700 Frontage Road MARKET: Cicero ASSET TYPE: Retail BUYER: Danny Betesh & Joe Betesh - Premier Retail Equities BROKER: Michael Cleeman - Cleeman Realty Group (@CleemanRealty) SALE PRICE: $8,000,000 SF: 165,225 ~ PPSF: $48 NOTE FROM BUYER: Premier Retail Equities is actively acquiring value-add shopping centers throughout the country. Send deals to [email protected]

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$426,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,924.08
Annual Debt Service$455,088.98