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SRS Real Estate Partners Sells Optima Dermatology Medical Property In Macedonia, OH For $10.6M

Property Image
SOLD
$10,600,000
Michael Carter
Frank Rogers
Greg Guyuron

Ohio

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Retail15,500 SF
Sold 06/13/2023
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Property Image
SOLD

SRS Real Estate Partners Sells Optima Dermatology Medical Property In Macedonia, OH For $10.6M

8183 Golden Link Boulevard

See Similar Deals
Retail15,500 SF
Sold 06/13/2023
Michael Carter
Frank Rogers
Greg Guyuron
the dealplayerscompscontact
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Summary

OHIO
Asset Type:Retail
Price Per Square Foot:$683
Total Square Footage:15,500 SF
Transaction Type:Sale

A newly developed medical property in Macedonia, Ohio, occupied by Optima Dermatology, has been sold by SRS Real Estate Partners for $10.6 million. The property, located at 8183 Golden Link Boulevard and spanning 15,500 square feet, is part of The Crossings at Golden Link shopping center. It achieved a cap rate of 6.5 percent.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $10,600,000
  • Address: 8183 Golden Link Boulevard
  • Market: Macedonia, Ohio
  • Square Footage: 15,500

The sale of the medical property was completed with the involvement of various key individuals and companies. The brokers representing the transaction were Michael Carter and Frank Rogers from SRS Real Estate Partners, along with Greg Guyuron from Anchor Cleveland.

Players

Michael Carter
SRS Real Estate Partners
Michael Carter
5 deals$34.7M volume
BROKER
Frank Rogers
SRS Real Estate Partners
Frank Rogers
5 deals$34.7M volume
BROKER
Greg Guyuron
Anchor Cleveland
Greg Guyuron
1 deal$10.6M volume(216) 342-2564
BROKER

Details

SOLD
IMAGE: IMAGE: Frank Rogers, Greg Guyuron & Michael Carter DATE: 06/13/2023 ADDRESS: 8183 Golden Link Boulevard MARKET: Macedonia, Ohio ASSET TYPE: Retail BROKERS: Michael Carter & Frank Rogers - SRS Real Estate Partners; Greg Guyuron - Anchor Cleveland SALE PRICE: $10,600,000 SF: 15,500 ~ PPSF: $684 NOTE: SRS Real Estate Partners has sold a newly developed medical property in Macedonia, Ohio, occupied by Optima Dermatology, for $10.6 million to a New Jersey-based private investor. The 15,500-square-foot building is situated within The Crossings at Golden Link shopping center and achieved a cap rate of 6.5 percent.

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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