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Marcus & Millichap Orchestrates $7.3M Sale Of 7-Eleven Property In Fountain Inn
SOLD
$7,300,000
+ 1
South Carolina
See Similar DealsRetail4,650 SF
Sold 01/15/2024
SOLD
Marcus & Millichap Orchestrates $7.3M Sale Of 7-Eleven Property In Fountain Inn
910 Mccarter Road
See Similar DealsRetail4,650 SF
Sold 01/15/2024
+ 1
Summary
SOUTH CAROLINA
Asset Type:Retail
Price Per Square Foot:$1,569
Total Square Footage:4,650 SF
Transaction Type:Sale
Marcus & Millichap facilitated the sale of a 4,650-square-foot single-tenant property in Fountain Inn, SC. The property, located at 910 Mccarter Road, was sold for $7,300,000 at a price per square foot of $1,570. The transaction involved a retail asset, with 7-Eleven as the occupant under a 15-year net lease and corporate guarantee.
Summary of transaction details
- Property Type: Retail
- Sale Price: $7,300,000
- Square Footage: 4,650
- Address: 910 Mccarter Road, Fountain Inn, SC
- Market: Fountain Inn, SC
The deal was orchestrated by Marcus & Millichap, with brokers Austin Weisenbeck, Benjamin Yelm, Sean Sharko, and Timothy Nichols representing the transaction. Their expertise in the market and knowledge of the industry played a crucial role in the successful sale of the property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$389,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,935.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,605.72
Annual Debt Service$415,268.69
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