Updated Dec 4, 2024
Clear Path Asset Management Acquires Mixed-Use Buildings In Monroe, NC For $10.5M
2000 Wellness Boulevard
$10,500,000
$194/SF
Building Size
54,000 SF
Asset Type
Mixed-use
Closing
Nov 1, 2023
About this deal
AI
Clear Path Asset Management, based in Durham, North Carolina, has acquired four buildings within the Park at Monroe mixed-use development in Monroe, North Carolina, for $10.5 million. The transaction was completed at an approximate rate of $194.44 per square foot. The property, located at 2000 Wellness Boulevard, spans a total area of 54,000 square feet.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $10,500,000
- Address: 2000 Wellness Boulevard, Monroe, NC
- Market: Monroe, NC
- Buyer: Dan Magid - Clear Path Asset Management
- Seller: Carl S. Armato - Novant Health
- SF: 54,000
- PPSF: $194
Dan Magid, representing Clear Path Asset Management, successfully negotiated the acquisition. Carl S. Armato, representing Novant Health, acted as the seller in the transaction.
On the Map
$10,500,000
$194/SF
Mixed-use
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Players
Monroe Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93