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Marcus & Millichap Sells Park Terrace Retail Property In Durham, NC For $4.6M
SOLD
$4,600,000
North Carolina
See Similar DealsRetail2,255 SF
Sold 07/05/2023
SOLD
Marcus & Millichap Sells Park Terrace Retail Property In Durham, NC For $4.6M
2223 North Carolina Highway 54 Durham, North Carolina 27713, USA
See Similar DealsRetail2,255 SF
Sold 07/05/2023
Summary
NORTH CAROLINA
Asset Type:Retail
Price Per Square Foot:$2,039
Total Square Footage:2,255 SF
Transaction Type:Sale
Marcus & Millichap announced the sale of Park Terrace, a retail property spanning 24,813 square feet located at 2223 North Carolina Highway 54 in Durham, North Carolina. The property was sold for $4.6 million, with a price per square foot of $2,040.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,600,000
- Square Footage: 2,255
- Address: 2223 North Carolina Highway 54, Durham, NC
- Market: Durham, NC
- Brokers: Andrew Margulies & Harrison Creason - Marcus & Millichap
The sale of Park Terrace was facilitated by Andrew Margulies and Harrison Creason of Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$245,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,342.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,806.35
Annual Debt Service$261,676.16
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