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Marcus & Millichap Facilitates Sale Of Wolftever Crossing Shopping Strip In Ooltewah For $5.6M
SOLD
$5,600,000
Tennessee
See Similar DealsRetail12,040 SF
Sold 02/02/2024
SOLD
Marcus & Millichap Facilitates Sale Of Wolftever Crossing Shopping Strip In Ooltewah For $5.6M
9032 Old Lee Highway
See Similar DealsRetail12,040 SF
Sold 02/02/2024
Summary
TENNESSEE
Asset Type:Retail
Price Per Square Foot:$465
Total Square Footage:12,040 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$298,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,895.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,546.86
Annual Debt Service$318,562.28
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