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8207 Niagara Falls Blvd Nia...

Marcus & Millichap Sells Pine Plaza Retail Property In Niagara Falls For $8.14M
SOLDRetail

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

Craig Fuller

Broker

$174.9M

vol

18 deals

Broker

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