Armada Hoffler Sells Retail Property In Durham, NC For $24M
SOLD
$24,000,000
North Carolina
See Similar DealsRetail
Sold 07/12/2022
SOLD
Armada Hoffler Sells Retail Property In Durham, NC For $24M
Durham, North Carolina, United States
See Similar DealsRetail
Sold 07/12/2022
Summary
NORTH CAROLINA
Asset Type:Retail
Transaction Type:Sale
Armada Hoffler, represented by Lou Haddad, recently closed a retail property transaction in Durham, NC. The property was sold for a total price of $24,000,000. No additional details are available about the property, such as its square footage or address.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $24,000,000
Armada Hoffler, led by Lou Haddad, successfully completed the sale of this retail property in Durham, NC. The transaction marks a significant business deal for both the seller and the buyer, although no details were provided indicating who the buyer is. The involvement of Lou Haddad as the representative of Armada Hoffler highlights the importance of broker representation in such transactions.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,279,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$85,266.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$113,772.24
Annual Debt Service$1,365,266.93
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