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Multifamily Property At 5628 Newton Creek Drive Sells For $15.1 Million In Charlotte

Property Image
SOLD
$15,100,000
Max La Cava
Casey Sherman
William Martin
+ 1

North Carolina

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MultiFamily96,140 SF
Sold 05/08/2025
the dealplayerscompscontact
Property Image
SOLD

Multifamily Property At 5628 Newton Creek Drive Sells For $15.1 Million In Charlotte

5628 Newton Creek Drive

See Similar Deals
MultiFamily96,140 SF
Sold 05/08/2025
Max La Cava
Casey Sherman
William Martin
+ 1
the dealplayerscompscontact
Contact now

Summary

NORTH CAROLINA
Asset Type:MultiFamily
Price Per Square Foot:$157
Total Square Footage:96,140 SF
Transaction Type:Sale

The property asset involved in this transaction is a multifamily property located at 5628 Newton Creek Drive in Charlotte, NC. The sale was completed for a price of $15,100,000. The asset contains 55 units with a price per unit of $274,545. Additionally, the total square footage of the property is 96,140, resulting in a price per square foot of $157.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $15,100,000
  • Units: 55
  • Price Per Unit: $274,545
  • Square Footage: 96,140
  • Price Per Square Foot: $157

The deal was facilitated by brokers Casey Sherman, Max La Cava, and William Martin, representing JLL in the transaction. Their involvement underscores the expertise behind the successful completion of this multifamily asset sale.

Players

Max La Cava
JLL
Max La Cava
44 deals$1.5B volume(917) 825-7346
BROKER
Casey Sherman
JLL
Casey Sherman
2 deals$15.1M volume(704) 777-2488
BROKER
William Martin
JLL
William Martin
1 deal$15.1M volume
BROKER
Chase Monroe
JLL
Chase Monroe
1 deal$15.1M volume(704) 804-5785
BROKER

Details

SOLD
IMAGE: William Martin, Max La Cava & Casey Sherman DATE: 5/8/2025 ADDRESS: 5628 Newton Creek Drive MARKET: Charlotte, NC ASSET TYPE: Multifamily BROKERS: Casey Sherman, Max La Cava (@Max_La_Cava) & William Martin - JLL (@JLL) SALE PRICE: $15,100,000 UNITS: 55 ~ PPU: $274,545 SF: 96,140 ~ PPSF: $157

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$805,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$53,647.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$71,581.70
Annual Debt Service$858,980.44