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Former Walgreens Site In Raleigh, NC Sold For $4.27M - Marcus & Millichap Brokers
SOLD
$4,270,271
North Carolina
See Similar DealsRetail13,813 SF
Sold 07/10/2023
SOLD
Former Walgreens Site In Raleigh, NC Sold For $4.27M - Marcus & Millichap Brokers
1910 Falls Valley Drive
See Similar DealsRetail13,813 SF
Sold 07/10/2023
Summary
NORTH CAROLINA
Asset Type:Retail
Price Per Square Foot:$309
Total Square Footage:13,813 SF
Transaction Type:Sale
A former Walgreens location at 1910 Falls Valley Drive in Raleigh, North Carolina, has been sold for $4,270,271. The property spans 13,813 square feet, resulting in a price per square foot of $309.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,270,271
- Address: 1910 Falls Valley Drive, Raleigh, NC
- Market: Raleigh, NC
- Brokers: Andrew Margulies & Harrison Creason - Marcus & Millichap
The deal was facilitated by the brokers Andrew Margulies and Harrison Creason from Marcus & Millichap. They represented the parties involved in the transaction and played a key role in the successful sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$227,747.79
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,171.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,243.26
Annual Debt Service$242,919.16
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