Kohan Retail Group Acquires Retail Property In Asheville, NC For $51.76M
SOLD
$51,760,000
North Carolina
See Similar DealsRetail
Sold 08/30/2022
SOLD
Kohan Retail Group Acquires Retail Property In Asheville, NC For $51.76M
3 South Tunnel Road, Asheville, North Carolina 28805, United States
See Similar DealsRetail
Sold 08/30/2022
Summary
NORTH CAROLINA
Asset Type:Retail
Transaction Type:Sale
The retail property located at 3 S Tunnel Rd in Asheville, NC was recently sold. The transaction took place on August 30, 2022.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $51,760,000
- Address: 3 S Tunnel Rd, Asheville, NC
- Market: Asheville, NC
The buyer of the property was Kohan Retail Group, while the seller was CBL & Associates Properties Inc.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,760,533.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$183,892.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$245,368.81
Annual Debt Service$2,944,425.68
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