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Rick Baer & George Kleier Of American Commercial Realty Corp Acquire Seven Retail Centers In Columbus For $21.3M
SOLD
$21,300,000
Retail215,000 SF
Sold 04/01/2025
SOLD
Rick Baer & George Kleier Of American Commercial Realty Corp Acquire Seven Retail Centers In Columbus For $21.3M
1214 South James Road
See Similar DealsRetail215,000 SF
Sold 04/01/2025
Summary
OHIO
Asset Type:Retail
Price Per Square Foot:$99
Total Square Footage:215,000 SF
Transaction Type:Sale
Seven retail centers located at 1214 South James Road, 1995 East Dublin Granville Road, 4513, 5156, 5091 East Main Street, and 6085 McNaughten Road were sold in the Columbus, OH market for $21.3 million. The total square footage of the retail assets is 215,000, and the price per square foot is $99.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $21,300,000
- Buyer: Rick Baer & George Kleier
- Buyer's Company: American Commercial Realty Corp.
- Market: Columbus, OH
American Commercial Realty Corp. is based in Florida and intends to lease the remaining vacant spaces within the retail centers. A new tenant, Marx Bagels, is set to open at the McNaughten Road center.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,135,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$75,674.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$100,972.87
Annual Debt Service$1,211,674.40
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