Marcus & Millichap Brokers Sell Retail Property For $6.5M On North Broad Street In Philadelphia
SOLD
$6,500,000
Pennsylvania
See Similar DealsRetail17,401 SF
Sold 04/15/2021
SOLD
Marcus & Millichap Brokers Sell Retail Property For $6.5M On North Broad Street In Philadelphia
4221 North Broad Street, Philadelphia, PA, USA
See Similar DealsRetail17,401 SF
Sold 04/15/2021
Summary
PENNSYLVANIA
Asset Type:Retail
Price Per Square Foot:$373
Total Square Footage:17,401 SF
Transaction Type:Sale
A retail property located at 4221 North Broad Street in Philadelphia, PA was recently sold in a closed transaction. The property spans 17,401 square feet and was sold for a price of $6,500,000, resulting in a price per square foot of $374.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $6,500,000
- Address: 4221 North Broad Street, Philadelphia, PA
- Market: Philadelphia, PA
The transaction was facilitated by brokers Sean Beuche, Derrick Dougherty, and Scott Woodard of Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$346,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,093.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,813.32
Annual Debt Service$369,759.79
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