Marcus & Millichap Facilitates $2.3M Sale Of Retail Property In Somers, WI
3671 Market Lane
$2,300,000
$974/SF
Building Size
2,361 SF
Asset Type
Retail
Closing
Oct 18, 2023
About this deal
AI
Marcus & Millichap has facilitated the sale of a 2,361-square-foot retail property in Somers, a southern Milwaukee suburb. The property, located at 3671 Market Lane, was sold for $2.3 million, resulting in a price per square foot of $974.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,300,000
- Square Footage: 2,361
- Address: 3671 Market Lane, Somers, WI
- Market: Somers, WI
The broker involved in this transaction was Nicholas Kanich from Marcus & Millichap. Kanich played a crucial role in facilitating the sale of the retail property. This transaction highlights the strong demand for retail properties in the southern Milwaukee suburb of Somers.
On the Map
$2,300,000
$974/SF
Retail
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Kenosha 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
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93