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TRP Golden Corral, LLC Sells Retail Asset Occupied By Dollar General And Chase Bank For $5.9M
SOLD
$5,900,000
North Carolina
See Similar DealsRetail
Sold 05/01/2025
SOLD
TRP Golden Corral, LLC Sells Retail Asset Occupied By Dollar General And Chase Bank For $5.9M
6129 Glenwood Avenue
See Similar DealsRetail
Sold 05/01/2025
Summary
NORTH CAROLINA
Asset Type:Retail
Transaction Type:Sale
The transaction involved the sale of a retail asset located at 6129 Glenwood Avenue in Raleigh, NC. The property spans 2.29 acres and is currently occupied by two tenants, Dollar General and Chase Bank. The sale price for the asset was $5,900,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,900,000
- Seller: TRP Golden Corral, LLC
- Broker: Catharine Spangler - Cushman & Wakefield
- Date of Sale: 05/01/2025
- Market: Raleigh, NC
- Acquisition Method: 1031 exchange
This transaction was facilitated by Catharine Spangler from Cushman & Wakefield, who represented TRP Golden Corral, LLC in the sale. The buyer was a local entity that acquired the property through a 1031 exchange, indicating a strategic investment approach.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$314,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,961.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,969.01
Annual Debt Service$335,628.12
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