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Bodin Properties Acquires Retail Property In Cleveland, TN For $20M

Property Image
SOLD
$20,000,000
Andrew Kahn
Jim Hamilton
Brad Buchanan

Tennessee

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Retail148,203 SF
Sold
the dealplayerscompscontact
Property Image
SOLD

Bodin Properties Acquires Retail Property In Cleveland, TN For $20M

4580 Frontage Rd NW, Cleveland, TN 37312, United States

See Similar Deals
Retail148,203 SF
Sold
Andrew Kahn
Jim Hamilton
Brad Buchanan
the dealplayerscompscontact
Contact now

Summary

TENNESSEE
Asset Type:Retail
Price Per Square Foot:$135
Total Square Footage:148203 SF
Transaction Type:Sale

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.

Players

Jim Hamilton
JLL
Jim Hamilton
27 deals$1.1B volume
BROKER
Brad Buchanan
JLL
Brad Buchanan
26 deals$808.3M volume
BROKER
Andrew Kahn
JLL
Andrew Kahn
14 deals$452.9M volume
BROKER
WM
Wicker Park Capital Management
SELLER

Details

SOLD
IMAGE: Brad Buchanan, Jim Hamilton & Andrew Kahn DATE: 12/20/2022 ADDRESS: 4580 Frontage Rd NW MARKET: Cleveland, TN ASSET TYPE: Retail BUYER: Bodin Properties SELLER: Wicker Park Capital Management BROKERS: Brad Buchanan, Jim Hamilton & Andrew Kahn - JLL SALE PRICE: $20,000,000 SF: 148,203 ~ PPSF: $135

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,066,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$71,055.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,810.20
Annual Debt Service$1,137,722.44