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Marcus & Millichap Brokers $2 Million Sale Of Fully Leased Five Rivers Plaza Retail Center In Newport
SOLD
$2,000,000
Tennessee
See Similar DealsRetail80,170 SF
Sold 02/03/2025
SOLD
Marcus & Millichap Brokers $2 Million Sale Of Fully Leased Five Rivers Plaza Retail Center In Newport
122 Five Rivers Plaza Way & 140 Five Rivers Plaza Way
See Similar DealsRetail80,170 SF
Sold 02/03/2025
Summary
TENNESSEE
Asset Type:Retail
Price Per Square Foot:$24
Total Square Footage:80,170 SF
Transaction Type:Sale
The property asset involved in this transaction is a retail center located at 122-140 Five Rivers Plaza Way in Newport, TN. The sale price was $2,000,000, and the center comprises 40,085 square feet, resulting in a price per square foot of $50.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,000,000
- Sale Date: 02/03/2025
- Market: Newport, TN
- Square Footage: 40,085
- Price per Square Foot: $50
- Brokers: Eric Abbott, Jody McKibben & Zachary Taylor - Marcus & Millichap
The deal was facilitated by Marcus & Millichap, who brokered the sale of Five Rivers Plaza, which was fully leased at the time of the transaction. The brokers involved in representing the interests in this deal played a key role in its successful completion.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$106,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,105.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,481.02
Annual Debt Service$113,772.24
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