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Ontario Mall, LLC Purchases Retail Property In Ontario For $4.09M
SOLD
$4,095,000
Retail
Sold 04/10/2024
SOLD
Ontario Mall, LLC Purchases Retail Property In Ontario For $4.09M
2209 Richland Mall
See Similar DealsRetail
Sold 04/10/2024
Summary
OHIO
Asset Type:Retail
Transaction Type:Sale
The retail property located at 2209 Richland Mall in Ontario, Ohio, was sold for $4,095,000. The transaction took place between the buyer, Ontario Mall, LLC, and the seller, Richland Mall Holdings, LLC.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,095,000
- Address: 2209 Richland Mall
- Market: Ontario, Ohio
Brait Fund facilitated the completion of the sale by establishing the Ontario Mall, LLC in March. The transaction was finalized with the Auditor’s Office on April 10.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$218,400.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,548.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,412.39
Annual Debt Service$232,948.67
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