Institutional Property Advisors (IPA) - Marcus & Millichap Sell Retail Property In Philadelphia, Pennsylvania
7720 City Line Avenue, Philadelphia, PA 19151, United States
$24,600,000
$1,216/SF
Building Size
20,220 SF
Asset Type
Retail
Closing
Dec 5, 2022
AI
A retail property located at 7720 City Line Avenue in Philadelphia, Pennsylvania has been sold for a price of $24,600,000. The property spans a total area of 20,220 square feet, resulting in a price per square foot of $1,217. The sale took place on December 5, 2022.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $24,600,000
- Address: 7720 City Line Avenue, Philadelphia, Pennsylvania
- Market: Philadelphia, Pennsylvania
- Square Footage: 20,220
- Price per Square Foot: $1,217
The sale of this retail property was facilitated by Brad Nathanson, David Crotts, and Dean Zang from Institutional Property Advisors (IPA) - Marcus & Millichap. They represented the parties involved in the transaction.
Players
Philadelphia 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
0.64%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93