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Jacob Baruch & Jonah Warshaw Of Legacy Realty Group Advisors Sell Retail Center For $3.5M
SOLD
$3,500,000
North Carolina
See Similar DealsRetail100,934 SF
Sold 02/27/2024
SOLD
Jacob Baruch & Jonah Warshaw Of Legacy Realty Group Advisors Sell Retail Center For $3.5M
2402 North Herritage Street & 2430 North Heritage Street
See Similar DealsRetail100,934 SF
Sold 02/27/2024
Summary
NORTH CAROLINA
Asset Type:Retail
Price Per Square Foot:$34
Total Square Footage:100,934 SF
Transaction Type:Sale
The $3.5 million sale of Heritage Crossing, a 50,467-square-foot shopping center in Kinston, NC, has been successfully facilitated by Legacy Realty Group Advisors. The property, located at 2402-2430 North Heritage Street, is anchored by Food Lion, Rainbow, and Hibbett Sports.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,500,000
- SF: 50,467
- Price Per Square Foot: $69
- Market: Kinston, NC
- Brokers: Jacob Baruch & Jonah Warshaw - Legacy Realty Group Advisors
Jacob Baruch and Jonah Warshaw of Legacy Realty Group Advisors represented both the buyer and seller in the transaction, showcasing their expertise in the real estate market of Kinston, NC.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$186,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,434.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,591.79
Annual Debt Service$199,101.43
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