Ohio-based Private Investor Acquires Madison Retail Center For $3M

The retail center located at 6581 North Ridge Road in Madison, Ohio, with a total square footage of 72,048, was recently sold for $3,000,000. The property is anchored by Tractor Supply Co. and Bealls, making it a significant retail asset in the area.

Summary of transation details:

• Property Type: Retail
• Transaction Amount: $3,000,000
• Market: Madison, Ohio
• Square Footage: 72,048
• Price per Square Foot: $42
• Brokers: Craig Fuller, Erin Patton & Scott Wiles - Marcus & Millichap

Marcus & Millichap played a key role in facilitating the transaction, representing the Florida-based seller. They successfully secured a buyer, an Ohio-based private investor, who obtained acquisition financing from a life insurance company at a 70 percent loan-to-value ratio.