Updated May 12, 2025
TRP Golden Corral, LLC Sells Retail Asset Occupied By Dollar General And Chase Bank For $5.9M
6129 Glenwood Avenue
$5,900,000
Building Size
—
Asset Type
Retail
Closing
May 1, 2025
About this deal
AI
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.
On the Map
$5,900,000
Retail
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.69%
Cash-on-Cash
-0.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93