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Insight Property Group Acquires Retail Property In Raleigh, NC For $3.5M
SOLD
$3,500,000
North Carolina
See Similar DealsRetail8,943 SF
Sold 05/22/2023
SOLD
Insight Property Group Acquires Retail Property In Raleigh, NC For $3.5M
4800 Grove Barton Road Raleigh, North Carolina 27613, USA
See Similar DealsRetail8,943 SF
Sold 05/22/2023
Summary
NORTH CAROLINA
Asset Type:Retail
Price Per Square Foot:$391
Total Square Footage:8,943 SF
Transaction Type:Sale
The retail property located at 4800 Grove Barton Road in Raleigh, NC has been sold. The transaction was facilitated by Rikky Goswami of Insight Property Group, representing the buyer, and David Stowe of Colliers, representing the seller. The sale price for the property was $3,500,000. The property has a total square footage of 8,943, resulting in a price per square foot of $391.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $3,500,000
- Square Footage: 8,943
- Price per Square Foot: $391
- Address: 4800 Grove Barton Road, Raleigh, NC
- Market: Raleigh, NC
Insight Property Group, represented by Rikky Goswami, acted as the buyer's representative for this transaction. David Stowe, from Colliers, served as the seller's representative. The involvement of these key individuals highlights their role in the successful completion of the deal.
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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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