SCG Retail Acquires Retail Property In Syracuse For $6.75M
SOLD
$6,750,000
New York
See Similar DealsRetail165,225 SF
Sold 07/05/2022
SOLD
SCG Retail Acquires Retail Property In Syracuse For $6.75M
7785 Frontage Road
See Similar DealsRetail165,225 SF
Sold 07/05/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$40
Total Square Footage:165,225 SF
Transaction Type:Sale
The retail property located at 7785 Frontage Rd. in Syracuse has been sold. The property spans a total of 163,625 square feet and was sold for a price of $6,750,000, resulting in a price per square foot of $41.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $6,750,000
- Square Footage: 163,625
- Address: 7785 Frontage Rd.
- Market: Syracuse
SCG Retail acquired the property in this transaction. The deal was facilitated by brokers Michael Cleeman and Sam Seelenfreund from Cleeman Realty Group.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$360,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,981.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,998.44
Annual Debt Service$383,981.32
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