BZA Kenosha I SPE LLC Acquires Retail Space In Kenosha For $10.25M From ICAP Development
7450 Wisconsin Highway 31
$10,250,000
$153/SF
Building Size
67,000 SF
Asset Type
Retail
Closing
Dec 9, 2024
About this deal
AI
A retail asset located at 7450 Wisconsin Highway 31 in Kenosha, WI, has been sold for $10,250,000. The property encompasses 67,000 square feet, translating to a price per square foot of $153. This sale follows the redevelopment of a portion of Kenosha's Southport Plaza for tenants including Harbor Freight and Michael’s.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $10,250,000
- Sale Date: 12/09/2024
- Buyer: BZA Kenosha I SPE LLC
- Seller: ICAP Development
- Total Square Feet: 67,000
- Price Per Square Foot: $153
- Market: Kenosha, WI
BZA Kenosha I SPE LLC has acquired the property and is known to own the remaining 38 acres of the 386,000-square-foot shopping center. ICAP Development was responsible for the redevelopment efforts that attracted tenants to the area.
On the Map
$10,250,000
$153/SF
Retail
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Players
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
1.55%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93