Joseph French Jr. & Kodi Traver Of Marcus & Millichap Sell Parkesburg Retail Center For $7M
108 West 1st Avenue
$7,000,000
$131/SF
Building Size
53,319 SF
Asset Type
Retail
Closing
Mar 12, 2024
AI
The Parkesburg Shopping Center, located at 108 West 1st Avenue in Parkesburg, Pennsylvania, spans 7.7 acres and was recently sold for $7 million. This 53,319-square-foot retail center is anchored by Grocery Outlet and Planet Fitness, and the transaction closed at a 7.5 percent cap rate.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $7,000,000
- Market: Parkesburg, Pennsylvania
- SF: 53,319
- PPSF: $131
- Brokers: Joseph French Jr. & Kodi Traver - Marcus & Millichap
Joseph French Jr. and Kodi Traver, representing Marcus & Millichap, successfully facilitated the sale of the Parkesburg Shopping Center to undisclosed private investors. The collaboration of these brokers led to the seamless execution of this significant real estate transaction.
Players
Parkesburg Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93