Albanese Cormier Sells Mixed-Use Property At 1584 Gallatin Pike In Madison For $9.8M
1584 Gallatin Pike
$9,800,000
$119/SF
Building Size
81,935 SF
Asset Type
Mixed-use
Closing
Dec 3, 2024
AI
The property involved in this transaction is a mixed-use shopping center located at 1584 Gallatin Pike, Madison, TN. The asset is fully leased and encompasses 81,935 square feet, resulting in a price per square foot of $120. The sale price for the property was $9,800,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $9,800,000
- Square Footage: 81,935
- Price Per Square Foot: $120
- Address: 1584 Gallatin Pike
- Market: Madison, TN
- Seller: Albanese Cormier
- Broker Representatives: Brad Buchanan & Jim Hamilton - JLL
The transaction was facilitated by JLL, with brokers Jim Hamilton and Brad Buchanan representing the seller, Albanese Cormier. The property features tenants such as Dollar General and Office Depot.
Players
Madison Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.62%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93