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Cooper Commercial Investment Group Brokers $2.1M Retail Property Sale In Mentor
SOLD
$2,100,000
Retail
Sold 04/18/2024
SOLD
Cooper Commercial Investment Group Brokers $2.1M Retail Property Sale In Mentor
7715 Mentor Avenue
See Similar DealsRetail
Sold 04/18/2024
Summary
OHIO
Asset Type:Retail
Transaction Type:Sale
The $2.1 million sale of a single-tenant retail property located at 7715 Mentor Avenue in Mentor, Ohio, has been completed. The property, housing Starbucks Coffee, was built in 2022 and has approximately eight years remaining on its lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,100,000
- Address: 7715 Mentor Avenue
- Market: Mentor, Ohio
Dan Cooper of Cooper Commercial Investment Group played a crucial role in facilitating the $2.1 million sale. Representing the Ohio-based seller in the 1031-exchange deal, Cooper ensured a successful transaction for the retail property housing Starbucks Coffee in Mentor.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$112,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,460.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,955.07
Annual Debt Service$119,460.86
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