Marcus & Millichap Facilitates Sale Of Wolftever Crossing Shopping Strip In Ooltewah For $5.6M
9032 Old Lee Highway
$5,600,000
$465/SF
Building Size
12,040 SF
Asset Type
Retail
Closing
Feb 2, 2024
AI
The $5.6 million sale of Wolftever Crossing Shopping Strip, a 12,040-square-foot shopping center located at 9032 Old Lee Highway in Ooltewah, TN, near Chattanooga, has been facilitated by Marcus & Millichap. The sale price per square footage equates to $465.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,600,000
- Address: 9032 Old Lee Highway
- Market: Ooltewah, TN
- Brokers: Andrew Margulies, Harrison Creason & Jody McKibben - Marcus & Millichap
Andrew Margulies, Harrison Creason, and Jody McKibben of Marcus & Millichap worked as the brokers representing the parties in this transaction.
Players
Ooltewah 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
2.83%
Cash-on-Cash
-0.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93