Drapac Capital Partners Acquires Mixed Use Property In Memphis, TN For $2.5M
44 South Front Street, Memphis, Tennessee 38103, United States
$2,500,000
$109/SF
Building Size
22,922 SF
Asset Type
Mixed-use
Closing
Oct 3, 2022
About this deal
AI
Located at 44 S Front St in Memphis, TN, this mixed-use property was recently sold in a transaction that took place on October 4, 2022. The property has a total area of 22,922 square feet and was sold for a price of $2,500,000, resulting in a price per square foot of $109.
Summary of transaction details
- Property Type: Mixed Use
- Sale Price: $2,500,000
- Address: 44 S Front St, Memphis, TN
- Market: Memphis, TN
- Buyer: Drapac Capital Partners
- Broker: Austin Ehrat - Newmark
Drapac Capital Partners, represented by their broker Austin Ehrat from Newmark, acquired this mixed-use property in Memphis, TN. The transaction, which closed on October 4, 2022, involved a sale price of $2,500,000, with the property consisting of 22,922 square feet. With a price per square foot of $109, this purchase marks a significant investment for Drapac Capital Partners in the Memphis market.
Players
Memphis 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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93