Marcus & Millichap Sells Park Terrace Retail Property In Durham, NC For $4.6M
2223 North Carolina Highway 54 Durham, North Carolina 27713, USA
$4,600,000
$2,039/SF
Building Size
2,255 SF
Asset Type
Retail
Closing
Jul 5, 2023
AI
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.
Players
Durham Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.45%
Cash-on-Cash
-0.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93