Marcus & Millichap Sells Pine Plaza Retail Property In Niagara Falls For $8.14M
8207 Niagara Falls Blvd Niagara Falls, NY 14304, USA
$8,140,000
$93/SF
Building Size
87,093 SF
Asset Type
Retail
Closing
Jun 12, 2023
AI
Pine Plaza, a neighborhood shopping center located at 8207 Niagara Falls Boulevard in Niagara Falls, New York, has been sold by Marcus & Millichap. The retail property spans 87,093 square feet and was sold for a total of $8,140,000. Pine Plaza features anchor tenants such as Office Depot and Planet Fitness, and boasts an occupancy rate of 83 percent.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $8,140,000
- Square Footage: 87,093
- Address: 8207 Niagara Falls Boulevard
- Market: Niagara Falls
Craig Fuller, Erin E. Patton, and Scott Wiles from Marcus & Millichap represented the parties involved in the transaction as brokers.
Players
New York 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
1.95%
Cash-on-Cash
-0.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93