Hendon Properties LLC Acquires Mixed-use Property In Germantown, TN For $35.5M
SOLD
$35,500,000
Tennessee
See Similar DealsMixed-use199,142 SF
Sold 08/29/2022
SOLD
Hendon Properties LLC Acquires Mixed-use Property In Germantown, TN For $35.5M
7670 Poplar Avenue, Germantown, Tennessee 38138, United States
See Similar DealsMixed-use199,142 SF
Sold 08/29/2022
Summary
TENNESSEE
Asset Type:Mixed-use
Price Per Square Foot:$178
Total Square Footage:199,142 SF
Transaction Type:Sale
The mixed-use property located at 1975 & 7670 Poplar Ave in Germantown, TN has been sold in a recent transaction. The property spans a total area of 199,142 square feet and was sold for a price of $35,500,000, resulting in a price per square foot of $178. The transaction took place on 08/29/2022 between the buyer, Hendon Properties LLC, and the seller, PEBB Enterprises.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $35,500,000
- Square Footage: 199,142
- Price per Square Foot: $178
- Address: 1975 & 7670 Poplar Ave, Germantown, TN
- Market: Germantown, TN
Evan Halkias and Margaret Jones from Cushman & Wakefield represented both parties, serving as brokers in the transaction.
Players
BROKERAGE
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,893,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$126,124.00
Cash-on-Cash Return-1.27%
Monthly Debt Service$168,288.11
Annual Debt Service$2,019,457.34
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