South Coast Commercial Acquires Retail Property In Concord, NC For $15.2M
SOLD
$15,200,000
North Carolina
See Similar DealsRetail45,569 SF
Sold 08/31/2022
SOLD
South Coast Commercial Acquires Retail Property In Concord, NC For $15.2M
8591 Concord Mills Boulevard, Concord, North Carolina 28027, United States
See Similar DealsRetail45,569 SF
Sold 08/31/2022
Summary
NORTH CAROLINA
Asset Type:Retail
Price Per Square Foot:$333
Total Square Footage:45,569 SF
Transaction Type:Sale
The retail property located at 8591 Concord Mills Boulevard in Concord, NC has been sold for a total price of $15,200,000. The property spans across 45,569 square feet, resulting in a price per square foot of $334.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $15,200,000
The buyer of the property is South Coast Commercial, LLC, while the seller is PEBB Enterprises, specifically represented by Ian Weiner. The deal was facilitated by Evan Halkias and Margaret Jones from Cushman & Wakefield.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$810,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$54,002.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$72,055.75
Annual Debt Service$864,669.06
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