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Institutional Property Advisors (IPA) - Marcus & Millichap Sell Retail Property In Philadelphia, Pennsylvania

Property Image
SOLD
$24,600,000
Dean Zang
David Crotts
Brad Nathanson

Pennsylvania

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Retail20,220 SF
Sold 12/05/2022
the dealplayerscompscontact
Property Image
SOLD

Institutional Property Advisors (IPA) - Marcus & Millichap Sell Retail Property In Philadelphia, Pennsylvania

7720 City Line Avenue, Philadelphia, PA 19151, United States

See Similar Deals
Retail20,220 SF
Sold 12/05/2022
Dean Zang
David Crotts
Brad Nathanson
the dealplayerscompscontact
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Summary

PENNSYLVANIA
Asset Type:Retail
Price Per Square Foot:$1,216
Total Square Footage:20,220 SF
Transaction Type:Sale

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

Brad Nathanson
Institutional Property Advisors
Brad Nathanson
15 deals$488.2M volume(215) 531-7000
BROKER
Dean Zang
Institutional Property Advisors
Dean Zang
17 deals$183.7M volume
BROKER
David Crotts
Institutional Property Advisors
David Crotts
17 deals$183.7M volume
BROKER

Details

SOLD
IMAGE: Brad Nathanson, David Crotts & Dean Zang DATE: 12/05/2022 ADDRESS: 7720 City Line Avenue MARKET: Philadelphia, Pennsylvania ASSET TYPE: Retail BROKERS: Brad Nathanson, David Crotts & Dean Zang - Institutional Property Advisors (IPA) - Marcus & Millichap (@MarcusMillichap_NewJersey) SALE PRICE: $24,600,000 SF: 20,220 ~ PPSF: $1,217

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Net Operating Income (NOI)

$1,312,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$87,398.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$116,616.55
Annual Debt Service$1,399,398.60