Updated Oct 29, 2024
Evans Best LLC Acquires Retail Property On Martin Luther King Jr. Blvd In New Bern For $12.8M
3531 Martin Luther King Jr Boulevard, New Bern, North Carolina 28562, United States
$12,750,000
$216,101/SF
Building Size
59 SF
Asset Type
Retail
Closing
Apr 17, 2023
About this deal
AI
The retail property located at 3531 Martin Luther King Jr. Blvd in New Bern, NC has been sold for $12,750,000. The transaction took place on December 22, 2022. The property spans 59,516 square feet, resulting in a price per square foot of $214. The buyer is Evans Best LLC, while the seller is Columbia Development Group and Lubert Adler.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $12,750,000
- Address: 3531 Martin Luther King Jr. Blvd, New Bern, NC
- Market: New Bern, NC
- Buyer: Evans Best LLC
- Seller: Columbia Development Group & Lubert Adler
- Brokers: Tom Kolarczyk & Danny Finkle - JLL Capital Markets
- Square Feet: 59,516
- Price per Square Foot: $214
The transaction was facilitated by brokers Tom Kolarczyk and Danny Finkle from JLL Capital Markets. They represented both the buyer and the seller in the deal.
On the Map
$12,750,000
$216,101/SF
Retail
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Players
New Bern 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
1.24%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93