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Alliance Consolidated Group Of Companies Acquires Medical Office Portfolio For $8.6M

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SOLD
$8,600,000

Florida

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25,483 SF
Sold 11/02/2022
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Property Image
SOLD

Alliance Consolidated Group Of Companies Acquires Medical Office Portfolio For $8.6M

1450 6th Street Southeast, Winter Haven, Florida 33880, United States

See Similar Deals
25,483 SF
Sold 11/02/2022
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Summary

FLORIDA
Price Per Square Foot:$337
Total Square Footage:25,483 SF
Transaction Type:Sale

Florida Dermatology & Skin Cancer Centers has sold four medical office properties located in Winter Haven, Lake Wales, Inverness, and Pinellas Park for a total of $8,600,000. The properties, with a combined square footage of 25,483, were acquired by Alliance Consolidated Group of Companies, represented by Ben Reinberg.

Summary of transaction details

  • Property Type: Medical Office
  • Transaction Amount: $8,600,000
  • Addresses:
    • 1450 6th St. SE
    • 421 Linden Lane
    • 927 U.S. Highway 41 South
    • 6020 Park Blvd
  • Market: Winter Haven, Lake Wales, Inverness & Pinellas Park

Alliance Consolidated Group of Companies, led by Ben Reinberg, successfully purchased the medical office properties from Florida Dermatology & Skin Cancer Centers. The properties offer a total of 25,483 square feet of medical office space across Winter Haven, Lake Wales, Inverness, and Pinellas Park. This transaction signifies the consolidation of the medical office portfolio within these multiple markets.

Players

4 deals$30.2M volume
BUYER

Details

SOLD
IMAGE: Ben Reinberg DATE: 11/02/2022 ADDRESS: 1450 6th St. SE, 421 Linden Lane, 927 U.S. Highway 41 South & 6020 Park Blvd MARKET: Winter Haven, Lake Wales, Inverness & Pinellas Park ASSET TYPE: Medical Office BUYER: Alliance Consolidated Group of Companies - Ben Reinberg (@TheRealBenReinberg) SELLER: Florida Dermatology & Skin Cancer Centers (@FloridaDermSCC) SALE PRICE: $8,600,000 SF: 25,483 ~ PPSF: $337

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$458,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$30,553.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,768.39
Annual Debt Service$489,220.65