Jacob And Daniel Baruch Of Legacy Realty Group Advisors Facilitate $19M Sale Of Shops At Olive Place In Albemarle
730 Leonard Avenue
$19,000,000
$120/SF
Building Size
157,400 SF
Asset Type
Retail
Closing
Jan 2, 2025
AI
The property involved in the transaction is located at 730 Leonard Avenue, Albemarle, NC, and is categorized as a retail asset. It has a total square footage of 157,400, with a sale price of $19,000,000, which equates to approximately $121 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $19,000,000
- Address: 730 Leonard Avenue
- Market: Albemarle, NC
- Square Footage: 157,400
- Price Per Square Foot: $121
Jacob Baruch and Daniel Baruch of Legacy Realty Group Advisors facilitated the transaction, representing both the buyer and seller in this off-market sale. The property is occupied by notable tenants such as Hobby Lobby, T.J. Maxx, and Ross.
Players
Albemarle 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
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93