Jacob Baruch & Jonah Warshaw Of Legacy Realty Group Advisors Sell Retail Center For $3.5M
2402 North Herritage Street & 2430 North Heritage Street
$3,500,000
$34/SF
Building Size
100,934 SF
Asset Type
Retail
Closing
Feb 27, 2024
AI
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.
Players
Kinston Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93