Marcus & Millichap Sells Marketplace At Milan Retail Center In Milan, TN For $4.7M
15423 South First Street
$4,700,000
$118/SF
Building Size
39,726 SF
Asset Type
Retail
Closing
Jan 17, 2024
AI
The Marketplace at Milan, a 39,726-square-foot retail center located at 15423 South First Street in Milan, Tennessee, has been sold for a price of $4,700,000. The property, which was 96 percent leased at the time of the sale, was facilitated by Marcus & Millichap. The sale price equates to approximately $118 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,700,000
- Square Footage: 39,726
- Address: 15423 South First Street, Milan, TN
- Market: Milan, TN
Marcus & Millichap, represented by brokers Alex Perez, Austin Sweet, Chris Garavaglia, and Jody McKibben, facilitated the sale of Marketplace at Milan. In addition to representing the property, the Marcus & Millichap team also secured and represented the private investor buyer involved in the transaction.
Players
Milan Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.38%
Cash-on-Cash
-0.96%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93