Studio Capital Acquires Retail Property In Memphis For $2.7M
SOLD
$2,700,000
Tennessee
See Similar DealsRetail46,724 SF
Sold 06/09/2022
SOLD
Studio Capital Acquires Retail Property In Memphis For $2.7M
2 North Main Street memphis & 2 N Main St, Memphis, Tennessee 38103, United States
See Similar DealsRetail46,724 SF
Sold 06/09/2022
Summary
TENNESSEE
Asset Type:Retail
Price Per Square Foot:$57
Total Square Footage:46,724 SF
Transaction Type:Sale
A retail property located at 2 N Main St in Memphis, TN has been sold. The property spans 23,362 square feet and was sold for a price of $2,700,000, resulting in a price per square foot of $116.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,700,000
- Square Footage: 23,362
- Address: 2 N Main St, Memphis, TN
- Market: Memphis, TN
Studio Capital has acquired the retail property from Drapac Capital Partners.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$144,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,592.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,799.38
Annual Debt Service$153,592.53
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