Marcus & Millichap Arranges $5.07M Acquisition Loan For Retail Property In McKinney
1620 S Hardin Blvd McKinney, TX 75071, USA
$5,070,000
$334/SF
Building Size
15,163 SF
Asset Type
Retail
Closing
Apr 27, 2023
About this deal
AI
A retail property located at 1620 South Hardin Boulevard in McKinney has been involved in a recent closed transaction. The property spans an area of 15,163 square feet.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $5,070,000
- Market: McKinney
Adam Pike from Marcus & Millichap represented the parties involved in this acquisition loan. The loan amount for this transaction was $5,070,000. The loan is of the acquisition type and includes the following terms: an interest rate of 5.36%, a 25-year amortization period, a 12-month interest-only period, and stepdown prepayment.
Players
Texas Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.13%
Cash-on-Cash
-0.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93