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Robert Zuritsky Of Parkway Corporation Acquires Retail Property From Highwoods Properties For $7.15M
SOLD
$7,150,000
North Carolina
See Similar DealsRetail
Sold 11/07/2025
SOLD
Robert Zuritsky Of Parkway Corporation Acquires Retail Property From Highwoods Properties For $7.15M
301 South Wilmington Street
See Similar DealsRetail
Sold 11/07/2025
Summary
NORTH CAROLINA
Asset Type:Retail
Transaction Type:Sale
A 0.68-acre parking lot located at 301 South Wilmington Street in Raleigh, NC has been sold for a total of $7,150,000. This retail asset transaction highlights the increasing investment interest in the urban core of downtown Raleigh.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,150,000
- Buyer: Robert Zuritsky - Parkway Corporation
- Seller: Highwoods Properties
- Broker: Foundry Commercial
The transaction indicates a significant out-of-market investment strategy by Parkway Corporation in the downtown area, as they acquired the property from Highwoods Properties, facilitated by Foundry Commercial as the broker in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$381,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,402.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,894.65
Annual Debt Service$406,735.77
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