Somerset Properties & Ten Capital Management Acquires Mixed-use Property In Greensboro, NC For $20.8M
SOLD
$20,800,000
+ 1
North Carolina
See Similar DealsMixed-use229,184 SF
Sold 08/29/2022
SOLD
Somerset Properties & Ten Capital Management Acquires Mixed-use Property In Greensboro, NC For $20.8M
7021 Albert Pick Road, Greensboro, North Carolina 27409, United States
See Similar DealsMixed-use229,184 SF
Sold 08/29/2022
+ 1
Summary
NORTH CAROLINA
Asset Type:Mixed-use
Price Per Square Foot:$90
Total Square Footage:229,184 SF
Transaction Type:Sale
A mixed-use property located at 406, 416, 418, 420, 422, 424, 426, 7009, 7011, 7015, 7017, 7019 & 7021 Albert Pick Road in Greensboro, NC has been sold. The property spans 229,184 square feet and was sold for a total price of $20,800,000, resulting in a price per square foot of $91.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $20,800,000
- Square Footage: 229,184
- Address: 406, 416, 418, 420, 422, 424, 426, 7009, 7011, 7015, 7017, 7019 & 7021 Albert Pick Road, Greensboro, NC
- Market: Greensboro, NC
The buyer of the property is Somerset Properties & Ten Capital Management. The sale was facilitated by brokers Patrick Gildea, Matt Smith, Grayson Hawkins, and Reggie Beeson from CBRE.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,109,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$73,898.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$98,602.61
Annual Debt Service$1,183,231.34
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