Marcus & Millichap Sells McLendon Place Retail Property In Belfair, WA For $1.65M
23554 Northeast State Route 3 & 23552 Northeast State Route 3
$1,650,000
$101/SF
Building Size
16,208 SF
Asset Type
Retail
Closing
Dec 4, 2023
AI
Marcus & Millichap has announced the sale of McLendon Place, an 8,104-square foot retail property located at 23554/23552 Northeast State Route 3 in Belfair, WA. The transaction, which took place on December 4, 2023, saw the property being sold for $1,650,000, resulting in a price per square foot of $204.
Summary of transaction details:
- Property Type: Retail
- Sale Price: $1,650,000
- Square Footage: 8,104
- Price per Square Foot: $204
- Address: 23554/23552 Northeast State Route 3, Belfair, WA
- Market: Belfair, WA
The sale of McLendon Place was brokered by Michael Babicz, RJ Vara & Zach Howe from Marcus & Millichap. The property, with its desirable retail features and location, attracted buyers, resulting in the successful transaction. This sale demonstrates the continued growth and investment opportunities in the Belfair, WA market.
Players
Belfair 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
9.61%
Cash-on-Cash
-2.75%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93