Updated Oct 28, 2024
Armada Hoffler Properties Sells Retail Asset In Durham, NC For $12.54M
1700 North Pointe Drive, Durham, North Carolina 27705, United States
$12,540,000
$104/SF
Building Size
120,000 SF
Asset Type
Retail
Closing
Jul 12, 2022
About this deal
AI
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.
On the Map
$12,540,000
$104/SF
Retail
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Players
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
1.26%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93