Updated Jan 6, 2025
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
About this deal
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