Marcus & Millichap Brokers Acquire Medical Office Property For $5.05M In Altamonte Springs
SOLD
$5,050,000
Florida
See Similar Deals28,411 SF
Sold 12/16/2021
SOLD
Marcus & Millichap Brokers Acquire Medical Office Property For $5.05M In Altamonte Springs
106 Boston Avenue, Altamonte Springs, Florida 32701, United States
See Similar Deals28,411 SF
Sold 12/16/2021
Summary
FLORIDA
Price Per Square Foot:$177
Total Square Footage:28,411 SF
Transaction Type:Sale
Located at 106 Boston Avenue in Altamonte Springs, this medical office was recently sold in a closed transaction. The deal was facilitated by brokers David Vaughan and Ray Turchi from Marcus & Millichap. The property offers a total square footage of 28,411, equating to a price per square foot of $178. The sale price for this transaction was $5,050,000.
Summary of transaction details
- Property Type: Medical Office
- Transaction Amount: $5,050,000
The presence of David Vaughan and Ray Turchi from Marcus & Millichap played a crucial role in successfully closing this deal. Their expertise and negotiation skills ensured a smooth transaction for all parties involved.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$269,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,941.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,939.58
Annual Debt Service$287,274.92
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