Cameron Street Partners Sells Retail Property In Emerald Isle, N.C For $12M
SOLD
$12,000,000
North Carolina
See Similar DealsRetail102 SF
Sold 09/11/2022
SOLD
Cameron Street Partners Sells Retail Property In Emerald Isle, N.C For $12M
8700 Emerald Drive, Emerald Isle, North Carolina 28594, United States
See Similar DealsRetail102 SF
Sold 09/11/2022
Summary
NORTH CAROLINA
Asset Type:Retail
Price Per Square Foot:$117,647
Total Square Footage:102 SF
Transaction Type:Sale
The retail property located at 8700 Emerald Drive in Emerald Isle, N.C. was recently sold for $12,000,000. The property spans across 102,539 square feet, resulting in a price per square foot of $117.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $12,000,000
- Address: 8700 Emerald Drive
- Market: Emerald Isle, N.C
- Seller: Cameron Street Partners
- Buyer's Representative: Charlie Barzola - Eastern Commercial Corp
- Seller's Representative: Tom Kolarczyk - JLL Capital Market
- Square Footage: 102,539
- Price Per Square Foot: $117
Charlie Barzola from Eastern Commercial Corp represented the buyer, while Tom Kolarczyk from JLL Capital Market represented the seller in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$640,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,633.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,886.12
Annual Debt Service$682,633.47
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