Updated Oct 28, 2024
Armada Hoffler Properties Sells Retail Property In Durham, NC For $11.4M
1510 North Pointe Drive, Durham, North Carolina 27705, United States
$11,390,000
$76/SF
Building Size
148,663 SF
Asset Type
Retail
Closing
Jul 12, 2022
About this deal
AI
The retail property located at 1510 North Pointe Dr in Durham, NC has been sold for a total price of $11,390,000. The property spans a total area of 148,663 square feet, resulting in a price per square foot of $77. The transaction was facilitated by Armada Hoffler Properties as the seller. The deal was brokered by Alex Sharrin, Alex Geanakos, and Michael Roberts of JLL.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $11,390,000
- Square Footage: 148,663
- Price per Square Foot: $77
- Address: 1510 North Pointe Dr, Durham, NC
- Market: Durham, NC
- Seller: Armada Hoffler Properties
- Broker: Alex Sharrin, Alex Geanakos & Michael Roberts - JLL
In this transaction, Armada Hoffler Properties acted as the seller, while the buyer's representative was Alex Sharrin, Alex Geanakos, and Michael Roberts from JLL. The sale of the retail property at 1510 North Pointe Dr in Durham, NC for $11,390,000 marks a significant deal in the local market.
On the Map
$11,390,000
$76/SF
Retail
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Durham 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
1.39%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93