ExchangeRight Acquires Retail Property In North Wales For $22.6M
SOLD
$22,600,000
Pennsylvania
See Similar DealsRetail128,000 SF
Sold 09/02/2022
SOLD
ExchangeRight Acquires Retail Property In North Wales For $22.6M
500 Montgomery Mall, North Wales, PA 19454 USA
See Similar DealsRetail128,000 SF
Sold 09/02/2022
Summary
PENNSYLVANIA
Asset Type:Retail
Price Per Square Foot:$176
Total Square Footage:128,000 SF
Transaction Type:Sale
An ExchangeRight managed by Kohan Retail Investment Group has sold a retail property located at 500 Montgomery Mall North in North Wales. The property, featuring a total of 128,000 square feet of space, was sold for a price of $22,600,000, resulting in a price per square foot of $177.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $22,600,000
- Square Footage: 128,000
- Address: 500 Montgomery Mall North, North Wales
- Market: North Wales
Kohan Retail Investment Group, acting as the seller, facilitated the transaction with ExchangeRight as the buyer.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,205,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$80,293.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$107,135.53
Annual Debt Service$1,285,626.36
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