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Property Resources Acquires Retail Asset In Lexington NC From New South Properties For $17.5M
SOLD
$17,500,000
North Carolina
See Similar DealsRetail270,650 SF
Sold 09/09/2025
SOLD
Property Resources Acquires Retail Asset In Lexington NC From New South Properties For $17.5M
19 Plaza Parkway
See Similar DealsRetail270,650 SF
Sold 09/09/2025
Summary
NORTH CAROLINA
Asset Type:Retail
Price Per Square Foot:$64
Total Square Footage:270,650 SF
Transaction Type:Sale
The property asset involved in the transaction is located at 19 Plaza Parkway, Lexington, NC. This retail asset spans a total of 270,650 square feet and was sold for a price of $17,500,000, equating to approximately $65 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $17,500,000
- Sale Date: 09/09/2025
- Buyer: Property Resources
- Seller: New South Properties
- Square Footage: 270,650
- Price Per Square Foot: $65
- Market: Lexington, NC
Property Resources, as the buyer, acquired the Lexington Parkway Plaza from New South Properties. This transaction reflects the ongoing interest in retail assets in the Lexington market, emphasizing the role of both companies in the real estate industry.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$933,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$62,173.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$82,958.93
Annual Debt Service$995,507.14
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