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Albanese Cormier Sells Mixed-Use Property At 1584 Gallatin Pike In Madison For $9.8M
SOLD
$9,800,000
Tennessee
See Similar DealsMixed-use81,935 SF
Sold
SOLD
Albanese Cormier Sells Mixed-Use Property At 1584 Gallatin Pike In Madison For $9.8M
1584 Gallatin Pike
See Similar DealsMixed-use81,935 SF
Sold
Summary
TENNESSEE
Asset Type:Mixed-use
Price Per Square Foot:$119
Total Square Footage:81935 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$522,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,817.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$46,457.00
Annual Debt Service$557,484.00
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