Post Road Group Acquires 1.5 Acres Of Land In Tampa For $18.5M
SOLD
$18,500,000
Florida
See Similar DealsSold 04/01/2023
SOLD
Post Road Group Acquires 1.5 Acres Of Land In Tampa For $18.5M
1242 Channelside Drive, Tampa, Florida 33602, United States
See Similar DealsSold 04/01/2023
Summary
FLORIDA
Transaction Type:Sale
The property involved in this closed transaction is a land located at 1242 Channelside Drive, 629 N 12th Street, and 635 N 12th Street in Tampa. The land spans approximately 1.5 acres in size.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $18,500,000
- Date: 01/04/2023
- Market: Tampa
- Buyer: Post Road Group - Michael Bogdan & Kevin Davis
- Lender: CIBC Bank
The buyers in this transaction are Michael Bogdan and Kevin Davis from the Post Road Group. The lender involved in the deal is CIBC Bank.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$986,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$65,726.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$87,699.44
Annual Debt Service$1,052,393.26
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