Updated Oct 29, 2024
Mebane Ridge LLC Acquires Mebane Ridge Marketplace In $3.9M Deal
1909 NC-119 Mebane, North Carolina 27302, USA
$3,900,000
$164/SF
Building Size
23,700 SF
Asset Type
Commercial
Closing
Jul 14, 2023
About this deal
AI
A strip of storefronts in Mebane, NC, known as Mebane Ridge Marketplace, has been sold for $3.9 million. The property, located at 1909 NC-119, is a 23,700-square-foot commercial facility that houses a mix of retail, restaurant, and office spaces. The sale price per square foot is $165. The transaction took place on July 14, 2023.
Summary of transaction details
- Property Type: Commercial
- Transaction Amount: $3,900,000
- Address: 1909 NC-119, Mebane, NC
- Market: Mebane, NC
Mebane Ridge LLC, based in Isle of Palms, South Carolina, acquired the property from PGP. Mebane Ridge LLC is the new owner of this strip mall, which accommodates various businesses including Franco Pizzeria, Castle Mediterranean Restaurant, and more. The deal was facilitated by PGP's representative.
Players
Mebane Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.07%
Cash-on-Cash
-1.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93