Updated Dec 4, 2024
Miles Sand & Gravel Acquires Retail Property In Puyallup For $3.9M
300 Valley Avenue Northeast
$3,900,000
$526/SF
Building Size
7,411 SF
Asset Type
Retail
Closing
Jun 18, 2024
About this deal
AI
Miles Sand & Gravel purchased a former Northwest Motorsport property located at 300 Valley Avenue Northeast in Puyallup, WA. The property spans 1.5 acres and boasts a total of 7,411 square feet. The transaction took place on June 18, 2024, with the property being acquired from Sonic Automotive Inc for a total amount of $3,900,000, equating to a price per square foot of $526.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,900,000
- Buyer: Miles Sand & Gravel
- Seller: Sonic Automotive Inc
- Address: 300 Valley Avenue Northeast, Puyallup, WA
- Market: Puyallup, WA
- Square Footage: 7,411
- Price per Square Foot: $526
The 2024 transaction involved Miles Sand & Gravel purchasing the property from Sonic Automotive Inc, marking a 22% decrease from the property's previous acquisition price in 2022. The deal signifies a strategic move for both parties involved, with Miles Sand & Gravel expanding its portfolio by acquiring the retail property.
On the Map
$3,900,000
$526/SF
Retail
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Puyallup Retail Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.07%
Cash-on-Cash
-1.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93