Marcus & Millichap Facilitates $5.2M Sale Of Fully Leased Shopping Center In Great Falls
1024 Seneca Road Great Falls, Virginia 22066, USA
$5,200,000
$902/SF
Building Size
5,760 SF
Asset Type
Retail
Closing
Aug 2, 2023
About this deal
AI
The $5.2 million sale of Seneca Corner, a fully leased shopping center in Great Falls, VA, has been facilitated by Marcus & Millichap. The property, located at 1024 Seneca Rd, spans 5,760 square feet and boasts a price per square foot of $903. The retail asset is home to popular tenants such as Jersey Mike's, Domino's, and Five Guys.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $5,200,000
- Address: 1024 Seneca Rd, Great Falls, VA
- Market: Great Falls, VA
- Brokers: David Crotts, Dean Zang, Josh Ein - Marcus & Millichap
- Square Footage: 5,760
- Price per Square Foot: $903
The sale of Seneca Corner was arranged by Dean Zang, David Crotts, and Josh Ein of Marcus & Millichap. They represented the seller, an entity related to the Republic Family of Cos. The deal highlights the expertise and successful collaboration of these brokers in the retail market.
Players
Great Falls 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
3.05%
Cash-on-Cash
-0.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93