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Cason Development Group Acquires Retail Buildings At 3818 Devine Street For $7.1M
SOLD
$7,100,000
South Carolina
See Similar DealsRetail38,816 SF
Sold 05/29/2025
SOLD
Cason Development Group Acquires Retail Buildings At 3818 Devine Street For $7.1M
3818 Devine Street
See Similar DealsRetail38,816 SF
Sold 05/29/2025
Summary
SOUTH CAROLINA
Asset Type:Retail
Price Per Square Foot:$182
Total Square Footage:38,816 SF
Transaction Type:Sale
The transaction involved two vacant retail buildings located at 3818 Devine Street, Columbia, SC, with a total square footage of 38,816. The sale was completed for a price of $7,100,000, equating to a price per square foot of $183. The property was previously occupied by Piggly Wiggly.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,100,000
- Square Footage: 38,816
- Address: 3818 Devine Street
- Market: Columbia, SC
- Buyer: Cason Development Group
- Brokers: Andrew Margulies & Harrison Creason - Marcus & Millichap
Marcus & Millichap facilitated the sale as the brokerage firm involved in this transaction, representing the buyer Cason Development Group, who acquired the property from an out-of-state owner.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$378,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,224.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,657.62
Annual Debt Service$403,891.47
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