Collett Capital Acquires Commercial Property In Mount Pleasant, SC For $14.3M
SOLD
$14,300,000
South Carolina
See Similar DealsCommercial
Sold 12/02/2021
SOLD
Collett Capital Acquires Commercial Property In Mount Pleasant, SC For $14.3M
963 Houston Northcutt Boulevard, Mount Pleasant, South Carolina 29464, United States
See Similar DealsCommercial
Sold 12/02/2021
Summary
SOUTH CAROLINA
Asset Type:Commercial
Transaction Type:Sale
The commercial property located at 963 Houston Northcutt Blvd in Mount Pleasant, SC has been sold for a total price of $14,300,000. The property spans across 7 acres and was purchased by Collett Capital from the seller, Regal Cinemas. The sale was facilitated by Nick Tanana and Brady Dashiell from Cushman & Wakefield.
Summary of transation details
- Property Type: Commercial
- Transaction Amount: $14,300,000
- Market: Mount Pleasant, SC
- Address: 963 Houston Northcutt Blvd
- Buyer: Collett Capital
- Seller: Regal Cinemas
- Brokers: Nick Tanana & Brady Dashiell - Cushman & Wakefield
Nick Tanana and Brady Dashiell from Cushman & Wakefield played a crucial role as brokers in the transaction, representing the buyer and seller respectively. Their expertise in the commercial real estate market in Mount Pleasant, SC contributed to the successful completion of the deal.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$762,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$50,804.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$67,789.30
Annual Debt Service$813,471.55
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