Montecito Medical Acquires Medical Office In Lithia For $20M
13837 Circa Crossing Drive, Lithia, Florida 33547, United States
$20,000,000
$540/SF
Building Size
37,000 SF
Asset Type
—
Closing
Aug 7, 2022
About this deal
AI
A medical office property located at 13837 Circa Crossing Drive in Lithia has been sold for a price of $20,000,000. The property spans 3.5 acres and offers a total square footage of 37,000. The sale was completed on 08/08/2022, with Chip Conk from Montecito Medical representing the buyer and Rubin Real Estate Advisors serving as the seller. Synovus Bank provided the financing for the transaction. The price per square foot for this transaction was $541.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $20,000,000
- Location: 13837 Circa Crossing Drive, Lithia
- Market: Lithia
- Acreage: 3.5 acres
- Square Footage: 37,000
- Buyer: Montecito Medical - Chip Conk
- Seller: Rubin Real Estate Advisors
- Lender: Synovus Bank
- Price per Square Foot: $541
Chip Conk from Montecito Medical represented the buyer in this transaction, while Rubin Real Estate Advisors acted as the seller. Synovus Bank provided the necessary financing.
On the Map
$20,000,000
$540/SF
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Players
Lithia CRE Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93