ALTO Real Estate Funds Acquires Retail Property In Charlotte For $12.2M
SOLD
$12,200,000
North Carolina
See Similar DealsRetail93,896 SF
Sold 11/16/2021
SOLD
ALTO Real Estate Funds Acquires Retail Property In Charlotte For $12.2M
8813 JW Clay Boulevard, Charlotte, NC, USA
See Similar DealsRetail93,896 SF
Sold 11/16/2021
Summary
NORTH CAROLINA
Asset Type:Retail
Price Per Square Foot:$129
Total Square Footage:93,896 SF
Transaction Type:Sale
This retail property in Charlotte, North Carolina was recently sold for approximately $12,200,000. The transaction took place on November 16, 2021, and the property is located at 8813 J.W. Clay Blvd. The total square footage of the asset is 93,896, resulting in a price per square foot of $130.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $12,200,000 (Approx.)
- Address: 8813 J.W.Clay Blvd, Charlotte, North Carolina
- Market: Charlotte, North Carolina
- Square Footage: 93,896
- Price per Square Foot: $130
The buyer in this transaction is ALTO Real Estate Funds, specifically Mody Kidon and Yaniv Melamud. They represented themselves in the deal.
Players
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$650,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$43,344.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$57,834.22
Annual Debt Service$694,010.69
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