FC Investments Acquires Retail Property In Charlotte, NC For $16.2M
SOLD
$16,200,000
North Carolina
See Similar DealsRetail102,360 SF
Sold 02/07/2023
SOLD
FC Investments Acquires Retail Property In Charlotte, NC For $16.2M
5850 W Hwy 74
See Similar DealsRetail102,360 SF
Sold 02/07/2023
Summary
NORTH CAROLINA
Asset Type:Retail
Price Per Square Foot:$158
Total Square Footage:102,360 SF
Transaction Type:Sale
The retail property located at 5850 W Hwy 74 in Charlotte, NC has been sold for a price of $16,200,000. The property spans over an area of 102,360 square feet, resulting in a price per square foot of $158.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $16,200,000
- Address: 5850 W Hwy 74, Charlotte, NC
- Market: Charlotte, NC
- Buyer: FC Investments
- Seller: KPR Centers - Daniel Katz, Daniel Kaufthal & Eric Fink
- Brokers: Daniel Baruch & Jacob Baruch - Legacy Realty Group Advisors
- Square Footage: 102,360
- Price per Square Foot: $158
The buyer, FC Investments, has acquired the property from the seller, KPR Centers. The transaction was facilitated by the brokers, Daniel Baruch and Jacob Baruch from Legacy Realty Group Advisors.
Players
SELLER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$864,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$57,555.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$76,796.26
Annual Debt Service$921,555.18
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