Bodin Properties Acquires Retail Property In Cleveland, TN For $20M
4580 Frontage Rd NW, Cleveland, TN 37312, United States
$20,000,000
$135/SF
Building Size
148,203 SF
Asset Type
Retail
Closing
Dec 20, 2022
About this deal
AI
Bodin Properties has acquired a retail property located at 4580 Frontage Rd NW in Cleveland, TN. The property spans across 148,203 square feet and was sold for a price of $20,000,000, resulting in a price per square foot of $135.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $20,000,000
- Address: 4580 Frontage Rd NW, Cleveland, TN
- Market: Cleveland, TN
- Buyer: Bodin Properties
- Seller: Wicker Park Capital Management
- Brokers: Brad Buchanan, Jim Hamilton & Andrew Kahn - JLL
- Square Footage: 148,203
- Price per Square Foot: $135
The transaction was facilitated by Brad Buchanan, Jim Hamilton, and Andrew Kahn from JLL. They represented both the buyer, Bodin Properties, and the seller, Wicker Park Capital Management, in this retail property sale.
On the Map
$20,000,000
$135/SF
Retail
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Players
Cleveland 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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93