Armada Hoffler Properties Sells Retail Asset In Durham, NC For $12.54M
SOLD
$12,540,000
North Carolina
See Similar DealsRetail120,000 SF
Sold 07/13/2022
SOLD
Armada Hoffler Properties Sells Retail Asset In Durham, NC For $12.54M
1700 North Pointe Drive, Durham, North Carolina 27705, United States
See Similar DealsRetail120,000 SF
Sold 07/13/2022
Summary
NORTH CAROLINA
Asset Type:Retail
Price Per Square Foot:$104
Total Square Footage:120,000 SF
Transaction Type:Sale
The property involved in this closed transaction is a retail asset located at 1700 North Pointe Dr and 1510 North Pointe Dr in Durham, NC. The property spans approximately 120,000 square feet, with a sale price of $12,540,000. This equates to a price per square foot of $105.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $12,540,000
The seller of this property was Armada Hoffler Properties. The transaction was facilitated by brokers Alex Sharrin, Alex Geanakos, and Michael Roberts of JLL.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$668,800.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$44,551.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$59,446.00
Annual Debt Service$713,351.97
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