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Marcus & Millichap Brokers $18.8M Sale Of The Shoppes At Montague Corners

Property Image
SOLD
$18,800,000
Ani Paulson
Allyssa Paragano

South Carolina

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Retail106,518 SF
Sold 06/19/2024
the dealplayerscompscontact
Property Image
SOLD

Marcus & Millichap Brokers $18.8M Sale Of The Shoppes At Montague Corners

5060 Dorchester Road

See Similar Deals
Retail106,518 SF
Sold 06/19/2024
Ani Paulson
Allyssa Paragano
the dealplayerscompscontact
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Summary

SOUTH CAROLINA
Asset Type:Retail
Price Per Square Foot:$176
Total Square Footage:106,518 SF
Transaction Type:Sale

The Shoppes at Montague Corners in North Charleston, a 106,518-square-foot retail center anchored by Planet Fitness, was sold for $18.8 million. The property, located at 5060 Dorchester Road, is 94.6% occupied and recently renovated for $4 million. Tenants include Dollar General and Harbor Freight Tools.

Summary of transaction details:

Marcus & Millichap represented the parties in the $18.8 million sale of The Shoppes at Montague Corners. Allyssa Paragano and Ani Paulson from Marcus & Millichap facilitated the transaction involving this well-occupied retail asset with a diverse tenant mix, highlighting their expertise in the North Charleston market.

Players

Ani Paulson
Marcus & Millichap
Ani Paulson
10 deals$79.1M volume
BROKER
Allyssa Paragano
Marcus & Millichap
Allyssa Paragano
2 deals$26.8M volume(843) 952-2226
BROKER

Details

SOLD
IMAGE: 06/19/2024 ADDRESS: 5060 Dorchester Road MARKET: North Charleston ASSET TYPE: Retail BROKERS: Allyssa Paragano & Ani Paulson - Marcus & Millichap SALE PRICE: $18,800,000 SF: 106,518 ~ PPSF: $176 NOTE: Marcus & Millichap brokered the $18.8 million sale of The Shoppes at Montague Corners in North Charleston, a 106,518-square-foot retail center anchored by Planet Fitness. The property, 94.6% occupied and recently renovated for $4 million, includes tenants like Dollar General and Harbor Freight Tools.

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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$66,792.42
Cash-on-Cash Return-1.27%
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