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America's Realty LLC Acquires Retail Property In Lancaster, Ohio For $10.6M

Property Image
SOLD
$10,600,000
Scott Wiles
Erin Patton
+ 2

Ohio

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Retail210 SF
Sold 08/12/2022
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Property Image
SOLD

America's Realty LLC Acquires Retail Property In Lancaster, Ohio For $10.6M

1283 North Memorial Drive, Lancaster, Ohio 43130, United States

See Similar Deals
Retail210 SF
Sold 08/12/2022
Scott Wiles
Erin Patton
+ 2
Contact now

Summary

OHIO
Asset Type:Retail
Price Per Square Foot:$50,476
Total Square Footage:210 SF
Transaction Type:Sale

A retail property located at 1283 N Memorial Drive in Lancaster, Ohio has been sold in a closed transaction. The property, spanning 210,522 square feet, was sold for a total price of $10,600,000, resulting in a price per square foot of $50. The buyer of the property is America's Realty LLC, represented by Carl Verstandig.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $10,600,000
  • Address: 1283 N Memorial Drive, Lancaster, Ohio
  • Market: Lancaster, Ohio
  • Buyer: America's Realty LLC - Carl Verstandig
  • Brokers: Scott Wiles, CJ Jackson, Erin Patton & Craig Fuller - Patton Wiles Fuller Group - Marcus & Millichap
  • Square Footage: 210,522
  • Price Per Square Foot: $50

The sale of the retail property at 1283 N Memorial Drive in Lancaster, Ohio was facilitated by the real estate team of Scott Wiles, CJ Jackson, Erin Patton, and Craig Fuller from the Patton Wiles Fuller Group at Marcus & Millichap.

Players

18 deals$174.9M volume
BROKER


Scott Wiles
Marcus & Millichap
18 deals$174.9M volume
BROKER

Christopher Jackson "CJ" Jackson
Marcus & Millichap
5 deals$37.1M volume
BROKER

Details

SOLD
IMAGE: Craig Fuller, CJ Jackson, Carl Verstandig, Erin Patton & Scott Wiles DATE: 12/08/2022 ADDRESS: 1283 N Memorial Drive MARKET: Lancaster, Ohio ASSET TYPE: Retail BUYER: America's Realty LLC - Carl Verstandig BROKERS: Scott Wiles, CJ Jackson, Erin Patton & Craig Fuller - Patton Wiles Fuller Group - Marcus & Millichap SALE PRICE: $10,600,000 SF: 210,522 ~ PPSF: $50

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$565,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$37,659.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$50,249.41
Annual Debt Service$602,992.89