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Soly Halabi & Joseph Simhoneight Sell Retail Portfolio For $79.4M - NNN Pro Group
SOLD
$79,400,000
South Carolina
See Similar DealsRetail
Sold 05/30/2023
SOLD
Soly Halabi & Joseph Simhoneight Sell Retail Portfolio For $79.4M - NNN Pro Group
1990 McCrays Mill Road Sumter, South Carolina 29150, USA
See Similar DealsRetail
Sold 05/30/2023
Summary
SOUTH CAROLINA
Asset Type:Retail
Transaction Type:Sale
The retail portfolio located in Sumter, SC; Birmingham, AL; Richmond & Roanoke, VA; and Oklahoma City & Lawton, OK has been sold for a total price of $79,400,000. The properties included in the portfolio are situated at the following addresses: 1990 McCrays Mill Rd, 1560 Montclair Rd, 7000 Iron Bridge Rd, 3419 Orange Ave. NE, 4950 Planation Rd, 2141 Dale Ave. SE, 4900 S. Sooner Rd, and 3745 SW Lee Blvd.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $79,400,000
The sale of the retail portfolio was facilitated by Anthony D’Ambrosia and Glen Kunofsky from NNN Pro Group, who represented the sellers, Soly Halabi and Joseph Simhoneight.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,234,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$282,091.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$376,396.51
Annual Debt Service$4,516,758.10
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