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730 Leonard Avenue

Jacob And Daniel Baruch Of Legacy Realty Group Advisors Facilitate $19M Sale Of Shops At Olive Place In Albemarle
SOLDRetail

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

Jacob Baruch

Legacy Realty Group Advisors

Broker

$551.8M

vol

39 deals

Broker

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