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3035 West Fleet Street

Kingsbarn Realty Acquires Retail Asset From MFF Sports Complex LLC For $37M In Sioux Falls
SOLDRetail

Kingsbarn Realty Acquires Retail Asset From MFF Sports Complex LLC For $37M In Sioux Falls

3035 West Fleet Street

$37,000,000

$194/SF

Building Size

190,000 SF

Asset Type

Retail

Closing

Oct 14, 2023

AI

The property asset involved in the transaction is a retail space located at 3035 West Fleet Street in Sioux Falls. The sale was finalized for $37,000,000.00, encompassing a total square footage of 190,000.0.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $37,000,000.00
  • Address: 3035 West Fleet Street
  • Market: Sioux Falls
  • Square Footage: 190,000.0
  • Buyer: Kingsbarn Realty
  • Seller: MFF Sports Complex LLC
  • Sale Date: 10/14/2023

The transaction involved Kingsbarn Realty as the buyer, while MFF Sports Complex LLC acted as the seller. The deal reflects a significant investment in the retail sector within the Sioux Falls market.

Players

Lyman Phillips

Golden Lion Capital Investments

Broker

$439.2M

vol

26 deals

Broker
KR
Kingsbarn RealtyBuyer

MFF Sports Complex LLC

Seller
Seller

Sioux Falls Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.43%

Cash-on-Cash

-0.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93